Groupama Asset Managment Invests $372.45 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Groupama Asset Managment acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,500,000 shares of the cryptocurrency exchange’s stock, valued at approximately $372,450,000. Coinbase Global comprises about 2.7% of Groupama Asset Managment’s holdings, making the stock its 6th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. SOA Wealth Advisors LLC. increased its stake in Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Coinbase Global by 4.3% during the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the period. Capital Advisors Wealth Management LLC raised its stake in shares of Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares in the last quarter. Finally, IPG Investment Advisors LLC raised its stake in shares of Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Down 1.0 %

Shares of NASDAQ COIN opened at $172.23 on Tuesday. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The firm’s 50-day simple moving average is $236.90 and its 200 day simple moving average is $242.89. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $43.73 billion, a price-to-earnings ratio of 18.13 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced 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 net margin of 39.34% and a return on equity of 20.64%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays boosted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Mizuho cut their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Seven research 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’s stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average target price of $314.72.

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.