Coinbase Global (NASDAQ:COIN) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its target price trimmed by Keefe, Bruyette & Woods from $237.00 to $221.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the cryptocurrency exchange’s stock.

Several other brokerages have also recently commented on COIN. Bank of America reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Monday, October 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $174.00 price target on shares of Coinbase Global in a research note on Friday, October 30th. Wolfe Research set a $325.00 price objective on Coinbase Global in a report on Thursday, July 9th. Morgan Stanley cut Coinbase Global from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $258.00 to $120.00 in a research note on Monday. Finally, JPMorgan Chase & Co. increased their target price on Coinbase Global from $148.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average target price of $210.97.

Coinbase Global Price Performance

Shares of COIN stock opened at $136.82 on Tuesday. The firm has a market cap of $36.10 billion, a P/E ratio of -48.35 and a beta of 3.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.42 and a quick ratio of 2.42. Coinbase Global has a 1-year low of $133.50 and a 1-year high of $324.80. The firm has a fifty day moving average of $176.47 and a two-hundred day moving average of $176.73.

Insider Buying and Selling at Coinbase Global

In other news, Director Marc L. Andreessen sold 13,676 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $186.18, for a total transaction of $2,546,197.68. Following the completion of the transaction, the director directly owned 1,115,810 shares of the company’s stock, valued at approximately $207,741,505.80. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 92,120 shares of company stock worth $17,968,544. Insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the company. NBT Bank N.A. bought a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $28,000. Glen Eagle Advisors LLC lifted its holdings in Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Archer Investment Corp boosted its position in Coinbase Global by 546.4% during the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 153 shares during the period. Root Financial Partners LLC bought a new stake in Coinbase Global during the third quarter worth approximately $37,000. Finally, Kings Path Partners LLC bought a new stake in Coinbase Global during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

More Coinbase Global News

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase Prime is expanding its institutional offering with eligible U.S. clients gaining access to Deribit options and perpetuals. The move could broaden trading activity and revenue opportunities. Article: Coinbase Prime opens Deribit options and perps to eligible US institutions
• Positive Sentiment: Coinbase says more than 99% of customer crypto is held in offline storage and described safeguards such as split signing keys and emergency controls, seeking to reassure customers after the Binance hack. Article: Coinbase Says 99% of Customer Crypto Is Offline and Out of Hackers’ Reach
• Positive Sentiment: New Jersey dropped its case over Coinbase’s staking program and lifted its cease-and-desist order, allowing residents to earn staking rewards again. Disputes remain in other states. Article: Coinbase Wins New Jersey Staking Fight, but Four States Still Stand in the Way
• Neutral Sentiment: Wall Street analysts are described as cautiously optimistic about a potential recovery, despite Coinbase’s recent underperformance. Article: Is Wall Street Bullish or Bearish on Coinbase Stock?
• Negative Sentiment: A sharp Bitcoin reversal is dragging down crypto-linked shares, a direct headwind for Coinbase’s trading-sensitive business and the key near-term pressure on COIN. Article: Circle Sinks, Coinbase and Strategy Tumble as Bitcoin Slide Hits Crypto Stocks
• Negative Sentiment: Morgan Stanley downgraded Coinbase to Underweight and cut its price target to $120, with the Binance breach rattling retail investors and adding to concerns about crypto-platform risk. Article: Coinbase gets downgraded for a breach that happened elsewhere
• Negative Sentiment: A federal appeals court declined to pause New York and Connecticut actions involving Coinbase’s prediction-market business. The underlying legal arguments remain unresolved, leaving regulatory uncertainty. Article: Second Circuit Won’t Pause New York, Connecticut Actions Against Kalshi and Coinbase

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.