Coinbase Global (NASDAQ:COIN) Price Target Cut to $44.00

Coinbase Global (NASDAQ:COIN) had its target price reduced by Barclays from $55.00 to $44.00 in a research report sent to investors on Tuesday morning, The Fly reports. They currently have an equal weight rating on the cryptocurrency exchange’s stock.

COIN has been the topic of several other research reports. BTIG Research dropped their price objective on shares of Coinbase Global from $220.00 to $110.00 in a research note on Friday, November 4th. Wedbush dropped their price objective on shares of Coinbase Global from $100.00 to $75.00 in a research note on Friday, November 4th. Piper Sandler dropped their target price on shares of Coinbase Global from $120.00 to $115.00 and set an overweight rating on the stock in a research note on Wednesday, August 10th. Cowen dropped their target price on shares of Coinbase Global from $85.00 to $75.00 in a research note on Friday, November 4th. Finally, Cowen dropped their target price on shares of Coinbase Global from $85.00 to $75.00 in a research note on Friday, November 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $89.17.

Coinbase Global Trading Up 5.0 %

Shares of COIN opened at $45.57 on Tuesday. The firm’s 50-day moving average price is $62.64 and its 200-day moving average price is $65.46. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of -7.51 and a beta of 2.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.60. Coinbase Global has a 1-year low of $40.61 and a 1-year high of $331.70.

Coinbase Global (NASDAQ:COINGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.20). Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. The business had revenue of $590.34 million for the quarter, compared to the consensus estimate of $642.76 million. Sell-side analysts anticipate that Coinbase Global will post -11.42 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Tobias Lutke bought 5,577 shares of Coinbase Global stock in a transaction on Tuesday, August 30th. The stock was acquired at an average cost of $67.95 per share, with a total value of $378,957.15. Following the completion of the acquisition, the director now owns 44,207 shares in the company, valued at $3,003,865.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coinbase Global news, CEO Brian Armstrong sold 29,732 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $54.66, for a total value of $1,625,151.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tobias Lutke purchased 5,577 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was purchased at an average price of $67.95 per share, with a total value of $378,957.15. Following the completion of the transaction, the director now owns 44,207 shares of the company’s stock, valued at $3,003,865.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 77,242 shares of company stock valued at $4,856,505 and sold 148,457 shares valued at $6,657,299. 36.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the company. WD Rutherford LLC bought a new position in shares of Coinbase Global in the first quarter worth approximately $28,000. Cullen Frost Bankers Inc. boosted its position in shares of Coinbase Global by 555.6% during the first quarter. Cullen Frost Bankers Inc. now owns 295 shares of the cryptocurrency exchange’s stock worth $56,000 after acquiring an additional 250 shares during the last quarter. WASHINGTON TRUST Co boosted its position in shares of Coinbase Global by 100.0% during the first quarter. WASHINGTON TRUST Co now owns 300 shares of the cryptocurrency exchange’s stock worth $56,000 after acquiring an additional 150 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Coinbase Global by 3,355.6% during the first quarter. Lazard Asset Management LLC now owns 311 shares of the cryptocurrency exchange’s stock worth $59,000 after acquiring an additional 302 shares during the last quarter. Finally, BDO Wealth Advisors LLC boosted its position in shares of Coinbase Global by 133.5% during the third quarter. BDO Wealth Advisors LLC now owns 390 shares of the cryptocurrency exchange’s stock worth $25,000 after acquiring an additional 223 shares during the last quarter. 49.31% of the stock is currently owned by institutional investors.

Coinbase Global Company Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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