Coinbase Global (NASDAQ:COIN) Given New $221.00 Price Target at Cantor Fitzgerald

Coinbase Global (NASDAQ:COIN) had its target price cut by equities research analysts at Cantor Fitzgerald from $277.00 to $221.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the cryptocurrency exchange’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 35.45% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of Coinbase Global from $505.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on Coinbase Global in a research report on Wednesday, December 17th. They set a “buy” rating and a $340.00 target price for the company. China Renaissance dropped their price target on Coinbase Global from $479.30 to $301.50 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. President Capital upped their price objective on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group cut their target price on shares of Coinbase Global from $367.00 to $268.00 and set a “hold” rating on the stock in a research report on Monday, January 12th. Twenty analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $346.22.

Get Our Latest Analysis on COIN

Coinbase Global Stock Performance

COIN stock opened at $163.16 on Monday. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $444.64. The firm has a market cap of $43.99 billion, a price-to-earnings ratio of 14.14 and a beta of 3.70. The business’s fifty day simple moving average is $235.59 and its two-hundred day simple moving average is $291.49. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 1,375 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $250.27, for a total value of $344,121.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 8,050 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $250.00, for a total value of $2,012,500.00. Following the transaction, the chief financial officer directly owned 70,664 shares in the company, valued at $17,666,000. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 407,898 shares of company stock worth $111,702,931 over the last three months. Corporate insiders own 16.56% 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 stock. Capital Advisors Wealth Management LLC increased its stake in Coinbase Global by 2.0% during the 3rd quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange’s stock valued at $523,000 after purchasing an additional 30 shares in the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Coinbase Global by 37.6% during the third quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange’s stock valued at $39,000 after buying an additional 32 shares during the last quarter. West Family Investments Inc. increased its position in shares of Coinbase Global by 3.3% in the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock valued at $347,000 after acquiring an additional 33 shares during the period. Pettinga Financial Advisors LLC raised its stake in Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after acquiring an additional 34 shares during the last quarter. Finally, StoneX Group Inc. lifted its position in Coinbase Global by 1.8% during the 2nd quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange’s stock worth $690,000 after acquiring an additional 34 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global News Summary

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

About Coinbase Global

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Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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