Coinbase Global (NASDAQ:COIN) had its price target increased by Bank of America from $47.00 to $49.00 in a report released on Thursday, FlyOnTheWall reports.
Other equities analysts have also recently issued reports about the stock. Atlantic Securities cut shares of Coinbase Global from an overweight rating to a neutral rating and upped their price target for the stock from $70.00 to $80.00 in a research note on Wednesday. Mizuho reduced their price target on shares of Coinbase Global from $30.00 to $27.00 in a research report on Wednesday, May 3rd. Berenberg Bank started coverage on Coinbase Global in a report on Monday, May 15th. They issued a hold rating and a $55.00 price target on the stock. Wells Fargo & Company lifted their price objective on Coinbase Global from $40.00 to $43.00 in a report on Friday, May 5th. Finally, HC Wainwright began coverage on Coinbase Global in a report on Wednesday, April 26th. They issued a buy rating and a $75.00 target price on the stock. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $63.52.
Coinbase Global Trading Up 24.5 %
Shares of Coinbase Global stock opened at $107.00 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60. The firm has a market cap of $25.10 billion, a price-to-earnings ratio of -10.48 and a beta of 2.60. Coinbase Global has a 52-week low of $31.55 and a 52-week high of $116.30. The company’s 50-day simple moving average is $63.75 and its 200-day simple moving average is $60.17.
Insider Buying and Selling at Coinbase Global
In other news, CEO Brian Armstrong sold 29,730 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $55.49, for a total transaction of $1,649,717.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coinbase Global news, CEO Brian Armstrong sold 29,730 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $55.49, for a total transaction of $1,649,717.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III acquired 100,000 shares of Coinbase Global stock in a transaction dated Tuesday, May 9th. The stock was purchased at an average cost of $59.65 per share, for a total transaction of $5,965,000.00. Following the completion of the purchase, the director now directly owns 1,221,844 shares in the company, valued at $72,882,994.60. The disclosure for this purchase can be found here. Insiders have sold a total of 329,284 shares of company stock worth $21,682,721 in the last quarter. 33.16% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC grew its stake in shares of Coinbase Global by 144.0% in the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in Coinbase Global in the first quarter valued at approximately $27,000. Romano Brothers AND Company acquired a new position in shares of Coinbase Global during the fourth quarter worth $29,000. Sugarloaf Wealth Management LLC increased its stake in Coinbase Global by 54.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 819 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 288 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC lifted its holdings in Coinbase Global by 69.9% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 921 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 379 shares in the last quarter. 45.21% of the stock is owned by hedge funds and other institutional investors.
About Coinbase Global
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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