Loomis Sayles & Co. L P Buys Shares of 238 Coinbase Global, Inc. (NASDAQ:COIN)

Loomis Sayles & Co. L P purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 238 shares of the cryptocurrency exchange’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds have also modified their holdings of COIN. Cerity Partners LLC lifted its stake in Coinbase Global by 11.0% in the third quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock valued at $2,513,000 after buying an additional 1,393 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Coinbase Global by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock valued at $1,854,000 after acquiring an additional 186 shares during the period. D.A. Davidson & CO. boosted its stake in Coinbase Global by 1.6% during the 3rd quarter. D.A. Davidson & CO. now owns 5,894 shares of the cryptocurrency exchange’s stock worth $1,050,000 after acquiring an additional 90 shares during the last quarter. Townsquare Capital LLC grew its holdings in Coinbase Global by 97.1% during the third quarter. Townsquare Capital LLC now owns 4,738 shares of the cryptocurrency exchange’s stock valued at $844,000 after purchasing an additional 2,334 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Coinbase Global by 2.0% in the third quarter. Public Sector Pension Investment Board now owns 25,678 shares of the cryptocurrency exchange’s stock valued at $4,575,000 after purchasing an additional 500 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Down 7.8 %

Shares of NASDAQ:COIN opened at $173.93 on Monday. The stock has a market capitalization of $44.16 billion, a PE ratio of 18.31 and a beta of 3.66. The company’s 50-day moving average price is $239.36 and its two-hundred day moving average price is $242.83. 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.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,230,728.38. This trade represents a 49.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COIN. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Canaccord Genuity Group boosted their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Bank of America decreased their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.72.

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.