Coinbase Global (COIN) Stock Sinks 1.6% as Analysts Set New Price Targets

Coinbase Global, Inc. (NASDAQ:COIN) traded down 1.6% during trading on Friday. The stock traded as low as $242.05 and last traded at $243.65.

Coinbase Global, Inc. (NASDAQ:COIN) shares traded down 1.6% during trading on Friday. The stock traded as low as $242.05 and last traded at $243.65. 1,686,611 shares were traded during mid-day trading, a decline of 86% from the average session volume of 12,132,121 shares. The stock had previously closed at $247.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. As a group, research analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Several equities research analysts recently commented on the stock. HC Wainwright boosted their price target on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $110.00 to $217.00 in a report on Friday, May 17th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Oppenheimer boosted their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $214.67.

In related news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the sale, the director now directly owns 4,833 shares in the company, valued at approximately $1,256,580. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coinbase Global news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The stock sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now owns 66,122 shares in the company, valued at $18,223,223.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 377,803 shares of company stock worth $86,110,620. Company insiders own 23.43% of the company’s stock.

A number of large investors have recently made changes to their positions in COIN. Janney Montgomery Scott LLC increased its stake in shares of Coinbase Global by

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