Coinbase Global (COIN) Upgraded to Strong-Buy by Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Coinbase Global (NASDAQ:COIN) to a strong-buy rating in a research note published

Sanford C. Bernstein upgraded shares of Coinbase Global (NASDAQ:COIN) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports. The Goldman Sachs Group reduced their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a report on Tuesday, February 18th. Mizuho cut their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Kpnb lifted their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Research analysts expect that Coinbase Global will post 7.22 EPS for the current year.

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock valued at $60,955,968 in the last 90 days. 23.43% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the 3rd quarter. The value of the new investment is $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global during the 4th quarter. The value of the new investment is $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the 4th quarter. The value of the new investment is $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the 4th quarter. The value of the new investment is $27,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last