Armstrong Fleming & Moore Inc Purchases Shares of 938 Coinbase Global, Inc. (NASDAQ:COIN)

Armstrong Fleming & Moore Inc acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 938 shares of the cryptocurrency exchange’s stock, valued at approximately $233,000.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its position in Coinbase Global by 10.1% in the third 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after acquiring an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $409,919,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after acquiring an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC raised its position in shares of Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after purchasing an additional 17,650 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $213.09 on Wednesday. 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 stock has a market capitalization of $54.10 billion, a PE ratio of 22.43 and a beta of 3.61. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a 50 day moving average price of $272.02 and a two-hundred day moving average price of $240.90.

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

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 226,091 shares of company stock valued at $64,162,116. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. JMP Securities boosted their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Barclays boosted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $311.56.

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.