Klingenstein Fields & Co. LP Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Klingenstein Fields & Co. LP acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 837 shares of the cryptocurrency exchange’s stock, valued at approximately $208,000.

Several other institutional investors also recently bought and sold shares of COIN. Clear Street Derivatives LLC acquired a new position in Coinbase Global in the 3rd quarter valued at $409,919,000. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares in the last quarter. Azora Capital LP boosted its position in shares of Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $29,756,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on COIN. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Monness Crespi & Hardt boosted their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Finally, Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $286.00.

Coinbase Global Stock Performance

Coinbase Global stock opened at $298.11 on Friday. The stock has a market cap of $74.63 billion, a P/E ratio of 50.87 and a beta of 3.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $282.36 and a 200-day moving average of $237.88. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. On average, analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 386,798 shares of company stock worth $114,707,944 over the last ninety days. 23.43% of the stock is owned by insiders.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.