Coinbase Global (NASDAQ:COIN) Given New $472.00 Price Target at President Capital

Coinbase Global (NASDAQ:COIN) had its price target boosted by President Capital from $401.00 to $472.00 in a research note released on Wednesday,MarketScreener reports. President Capital currently has a buy rating on the cryptocurrency exchange’s stock.

Other research analysts also recently issued reports about the stock. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Rosenblatt Securities decreased their price objective on Coinbase Global from $470.00 to $450.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. China Renaissance upped their price target on Coinbase Global from $444.60 to $479.30 in a research report on Monday. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a research report on Friday, October 3rd. Finally, Benchmark reaffirmed a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $397.36.

Coinbase Global Price Performance

Coinbase Global stock opened at $316.48 on Wednesday. The stock has a market cap of $81.32 billion, a P/E ratio of 27.62 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average price is $334.11 and its two-hundred day moving average price is $309.52. Coinbase Global has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, equities analysts predict that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Activity

In other news, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the transaction, the chief financial officer directly owned 84,820 shares in the company, valued at approximately $29,212,856.20. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares of the company’s stock, valued at $28,475,608.64. The trade was a 10.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 205,657 shares of company stock worth $67,989,576. 17.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new position in shares of Coinbase Global in the third quarter valued at about $25,000. Evelyn Partners Investment Management Europe Ltd increased its holdings in Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares during the period. McClarren Financial Advisors Inc. bought a new position in Coinbase Global during the 1st quarter valued at approximately $30,000. Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global in the 2nd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC grew its position in shares of Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 88 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.