Optimize Financial Inc bought a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,249 shares of the cryptocurrency exchange's stock, valued at approximately $558,000.
A number of other institutional investors have also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the 4th quarter valued at about $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global in the 4th quarter worth about $50,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after acquiring an additional 149 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.
Coinbase Global Price Performance
Shares of COIN stock traded down $1.01 on Tuesday, reaching $175.57. The company's stock had a trading volume of 5,323,427 shares, compared to its average volume of 9,283,101. The company has a market capitalization of $44.57 billion, a price-to-earnings ratio of 18.48 and a beta of 3.65. The stock's fifty day simple moving average is $208.05 and its 200-day simple moving average is $242.29. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results 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%. Analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.
Analysts Set New Price Targets
COIN has been the subject of a number of research analyst reports. JMP Securities cut their target price on shares of Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. HC Wainwright reaffirmed a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Barclays cut their target price on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Rosenblatt Securities reissued a "buy" rating and set a $305.00 price objective on shares of Coinbase Global in a research report on Wednesday, March 26th. Finally, Mizuho cut their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has an average rating of "Moderate Buy" and an average target price of $298.74.
Get Our Latest Report on COIN
Insider Activity
In other Coinbase Global news, CFO Alesia J. Haas sold 20,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief financial officer now owns 124,470 shares in the company, valued at $37,341,000. The trade was a 13.84 % 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, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares of the company's stock, valued at $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,767 shares of company stock valued at $48,326,134 in the last ninety days. Insiders own 23.43% of the company's stock.
Coinbase Global Profile
(
Free Report)
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.
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