CenterBook Partners LP purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,529 shares of the cryptocurrency exchange's stock, valued at approximately $876,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global during the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC boosted its position in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock worth $52,000 after purchasing an additional 149 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
COIN has been the subject of a number of recent analyst reports. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price target on the stock. Bank of America lowered their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Piper Sandler lifted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Barclays reduced their target price on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $298.74.
View Our Latest Stock Report on COIN
Insider Buying and Selling at Coinbase Global
In related news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares of the company's stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. 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 90 days. Insiders own 23.43% of the company's stock.
Coinbase Global Stock Down 1.2 %
Shares of NASDAQ:COIN traded down $2.07 during trading on Tuesday, reaching $174.51. 4,129,136 shares of the stock traded hands, compared to its average volume of 9,743,120. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The stock has a 50-day moving average of $208.05 and a two-hundred day moving average of $242.29. The stock has a market cap of $44.31 billion, a P/E ratio of 18.36 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.
Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.
About Coinbase Global
(
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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