Coinbase Global (NASDAQ:COIN) had its price objective dropped by stock analysts at Rosenblatt Securities from $305.00 to $290.00

Coinbase Global (NASDAQ:COIN) had its price objective dropped by stock analysts at Rosenblatt Securities from $305.00 to $290.00 in a report issued on Thursday,Benzinga reports.

Stock analysts at Rosenblatt Securities decreased their price objective on Coinbase Global (NASDAQ:COIN) from $305.00 to $290.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the cryptocurrency exchange’s stock.

Rosenblatt Securities’ target price would suggest a potential upside of 65.69% from the company’s previous close. The brokerage’s price objective ranges from $195.00 to $420.00, with a median target of $297.95 and a score of “Moderate Buy” according to Valuerating.net.

A number of other equities analysts have also weighed in on COIN. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Cantor Fitzgerald started coverage on Coinbase Global in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th.

Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $297.95.

Coinbase Global last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. The company's revenue for the quarter was $3.15 billion, compared to the average estimate of $1.81 billion.

For the full year, analysts expect that Coinbase Global will post 7.22 earnings per share.

In related news, CFO Alesia J. Haas sold 7,575 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This represents a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their position. The disclosure for this sale can be found here.

Insiders have sold a total of 166,805 shares of company stock worth $41,907,752 over the last quarter. 23.43% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in COIN. Virtu Financial LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at $3,866,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Coinbase Global during the 3rd quarter valued at about $94,000. Principal Financial Group Inc. grew its holdings in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after purchasing an additional 36,843 shares during the period. Versant Capital