Coinbase global (NASDAQ:CURRENCY) had its price target raised by Atlantic Securities from $54.00 to $67.00 in a research note released on Tuesday, Fly reports. Atlantic Securities’ target price would indicate a potential upside of 2.67% from the stock’s previous close.
Several other equity research analysts have also recently released reports on the stock. Piper Sandler lowered its price target on Coinbase Global shares from $120.00 to $115.00 and set an “overweight” rating on the stock in a Wednesday, August 10, report. Cowen began covering Coinbase Global shares in a research note on Thursday, May 26. They set an “outperform” rating and a price target of $85.00 for the company. DA Davidson raised its price target on Coinbase Global shares from $90.00 to $100.00 and gave the company a “buy” rating in a Thursday, August 11 report. Mizuho lowered its price target on Coinbase Global shares from $45.00 to $42.00 and set a “neutral” rating on the stock in a Thursday, July 14, report. Finally, Cowen launched a hedge on Coinbase Global shares in a research report on Thursday, May 26. They set an “outperform” rating for the company. Two investment analysts gave the stock a sell rating, six gave the company a hold rating and sixteen gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.82.
Coinbase Global Price Performance
NASDAQ COIN opened at $65.26 on Tuesday. The company has a debt ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50-day simple moving average of $67.81 and a two-hundred-day simple moving average of $108.57. Coinbase Global has a 12-month low of $40.83 and a 12-month high of $368.90.
Insider Trading at Coinbase Global
In other Coinbase Global news, Director Tobias Lutke purchased 5,577 shares of the company in a trade on Tuesday, August 30. The shares were acquired at an average cost of $67.95 per share, for a total transaction of $378,957.15. Following completion of the transaction, the administrator now directly owns 44,207 shares of the company, valued at approximately $3,003,865.65. The transaction was disclosed in a legal filing with the SEC, accessible via this link. In a similar vein, CAO Jennifer N. Jones sold 2,177 shares of Coinbase Global in a trade dated Wednesday, August 24. The shares were sold at an average price of $72.00, for a total transaction of $156,744.00. Following completion of the transaction, the chief accounting officer now directly owns 27,417 shares of the company, valued at approximately $1,974,024. The transaction was disclosed in an SEC filing, which is available via the SEC website. Additionally, manager Tobias Lutke purchased 5,577 shares in a trade dated Tuesday, August 30. The shares were acquired at an average cost of $67.95 per share, with a total value of $378,957.15. As a result of the transaction, the administrator now directly owns 44,207 shares of the company, valued at approximately $3,003,865.65. Disclosure of this purchase can be found here. During the last quarter, insiders purchased 18,707 shares of the company valued at $1,497,826. 36.10% of the shares are currently held by insiders of the company.
Coinbase Global Institutional Trading
Hedge funds and other institutional investors have recently changed their positions in the company. Huntington National Bank increased its holdings of Coinbase Global shares by 346.4% in Q1. Huntington National Bank now owns 683 shares of the cryptocurrency exchange valued at $130,000 after buying an additional 530 shares in the last quarter. Gladstone Institutional Advisory LLC increased its holdings of Coinbase Global shares by 10.5% in the first quarter. Gladstone Institutional Advisory LLC now owns 2,638 shares of the cryptocurrency exchange valued at $501,000 after acquiring an additional 250 shares during the period. Brown Advisory Inc. increased its stake in Coinbase Global shares by 15.2% in the first quarter. Brown Advisory Inc. now owns 15,880 shares of the cryptocurrency exchange valued at $3,015,000 after buying an additional 2,093 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in Coinbase Global by 121.8% during Q4. Essex Investment Management Co. LLC now owns 9,287 shares of the cryptocurrency exchange worth $2,344,000 after purchasing an additional 5,100 shares during the period. Finally, the Toronto Dominion Bank increased its stake in Coinbase Global by 25.6% during the 1st quarter. The Toronto Dominion Bank now owns 12,627 shares of the cryptocurrency exchange valued at $2,397,000 after acquiring 2,573 additional shares in the last quarter. Institutional investors and hedge funds hold 49.31% of the company’s shares.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and around the world. The company offers the cryptoeconomy’s leading financial account for retailers; a marketplace with a pool of liquidity to transact 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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