Coinbase Global (NASDAQ:COIN) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Coinbase Global (NASDAQ:COIN) in a research report report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $305.00 price target on the cryptocurrency exchange’s stock.

Other equities analysts have also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Bank of America cut their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Trading Down 7.8 %

COIN stock opened at $173.93 on Wednesday. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75. The company has a market capitalization of $44.16 billion, a PE ratio of 18.31 and a beta of 3.66. The company’s 50-day simple moving average is $239.36 and its 200 day simple moving average is $241.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, sell-side analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $104,226.90. This trade represents a 95.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,609 shares of company stock worth $61,331,908 in the last ninety days. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its stake in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after acquiring an additional 40 shares during the last quarter. Yousif Capital Management LLC boosted its position in Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after acquiring an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC grew its holdings in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares during the period. Finally, IPG Investment Advisors LLC raised its position in shares of Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.