Coinbase Global (NASDAQ:COIN) Upgraded at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of Coinbase Global (NASDAQ:COIN) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has $417.00 price objective on the cryptocurrency exchange’s stock, up from their prior price objective of $325.00.

Other analysts have also issued reports about the company. Williams Trading set a $405.00 price objective on Coinbase Global in a research report on Thursday, July 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. JMP Securities boosted their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Monday, July 14th. Citigroup raised their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $367.27.

Coinbase Global Stock Performance

COIN stock opened at $380.02 on Friday. The company has a 50 day moving average price of $323.62 and a 200 day moving average price of $282.11. Coinbase Global has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The stock has a market capitalization of $97.64 billion, a PE ratio of 36.75 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share. Analysts forecast that Coinbase Global will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $322.28, for a total transaction of $8,057,000.00. Following the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at $169,519.28. The trade was a 97.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $304.52, for a total transaction of $3,045,200.00. Following the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,070,522.56. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 714,515 shares of company stock valued at $272,046,775 over the last 90 days. 23.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of COIN. Aaron Wealth Advisors LLC increased its position in shares of Coinbase Global by 74.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,769 shares of the cryptocurrency exchange’s stock worth $597,000 after purchasing an additional 756 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Coinbase Global by 45.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,202 shares of the cryptocurrency exchange’s stock valued at $743,000 after buying an additional 689 shares during the last quarter. Vigilare Wealth Management grew its stake in shares of Coinbase Global by 4.5% in the third quarter. Vigilare Wealth Management now owns 1,320 shares of the cryptocurrency exchange’s stock valued at $445,000 after buying an additional 57 shares in the last quarter. Farmers Trust Co. acquired a new position in Coinbase Global during the third quarter worth $1,977,000. Finally, Neville Rodie & Shaw Inc. bought a new stake in Coinbase Global during the third quarter worth $1,933,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.