Coinbase Global (NASDAQ:COIN) Given New $169.00 Price Target at Barclays

Coinbase Global (NASDAQ:COIN) had its price target decreased by stock analysts at Barclays from $328.00 to $169.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s target price would indicate a potential upside of 7.83% from the company’s previous close.

Several other analysts also recently commented on COIN. Rosenblatt Securities reiterated a “buy” rating and issued a $305.00 target price on shares of Coinbase Global in a report on Wednesday, March 26th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.89.

Coinbase Global Stock Down 2.4 %

NASDAQ COIN traded down $3.82 during trading hours on Monday, hitting $156.73. The company’s stock had a trading volume of 5,938,132 shares, compared to its average volume of 9,136,868. The company has a market capitalization of $39.79 billion, a PE ratio of 16.50 and a beta of 3.65. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global has a 52 week low of $142.58 and a 52 week high of $349.75. The company’s 50-day simple moving average is $226.99 and its two-hundred day simple moving average is $243.17.

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

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,767 shares of company stock worth $45,798,184. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of COIN. Norges Bank purchased a new position in Coinbase Global in the 4th quarter worth approximately $536,484,000. Groupama Asset Managment purchased a new position in Coinbase Global in the fourth quarter worth $372,450,000. Proficio Capital Partners LLC raised its position in Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Coinbase Global by 445.4% in the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock worth $101,431,000 after purchasing an additional 333,600 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Hedge funds and other institutional investors 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.