Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Signaturefd LLC

Signaturefd LLC raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,526 shares of the cryptocurrency exchange’s stock after buying an additional 512 shares during the period. Signaturefd LLC’s holdings in Coinbase Global were worth $876,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of COIN. Victory Capital Management Inc. grew its position in shares of Coinbase Global by 6.7% in the 3rd quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock worth $11,552,000 after acquiring an additional 4,076 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Coinbase Global by 5.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange’s stock worth $1,240,000 after acquiring an additional 367 shares in the last quarter. Empowered Funds LLC grew its position in shares of Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after acquiring an additional 43 shares in the last quarter. Quest Partners LLC grew its position in shares of Coinbase Global by 2,155.2% in the 3rd quarter. Quest Partners LLC now owns 6,698 shares of the cryptocurrency exchange’s stock worth $1,193,000 after acquiring an additional 6,401 shares in the last quarter. Finally, Caprock Group LLC grew its position in shares of Coinbase Global by 43.0% in the 3rd quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange’s stock worth $2,942,000 after acquiring an additional 4,965 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $189.75 on Thursday. The business’s 50-day moving average price is $250.03 and its two-hundred day moving average price is $240.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a market capitalization of $48.17 billion, a P/E ratio of 19.97 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Rosenblatt Securities assumed coverage on Coinbase Global in a report on Friday, March 7th. They issued a “buy” rating and a $305.00 price target on the stock. JMP Securities raised their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Sanford C. Bernstein initiated coverage on Coinbase Global in a research note on Monday. They set an “outperform” rating and a $310.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

Coinbase Global 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.