Phoenix Financial Ltd. Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Phoenix Financial Ltd. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 212.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,406 shares of the cryptocurrency exchange's stock after purchasing an additional 2,996 shares during the quarter. Phoenix Financial Ltd.'s holdings in Coinbase Global were worth $1,094,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in 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 purchasing an additional 106 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the 4th quarter valued at about $50,000. Finally, Bogart Wealth LLC increased its position in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after buying an additional 149 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 20,000 shares of the business's stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $88,646.78. This represents a 96.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,767 shares of company stock valued at $48,326,134 in the last quarter. Insiders own 23.43% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on COIN shares. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th. JMP Securities reduced their price target 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. Rosenblatt Securities reaffirmed a "buy" rating and issued a $305.00 price target on shares of Coinbase Global in a report on Wednesday, March 26th. Bank of America dropped their price objective on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Piper Sandler upped their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Seven 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $298.74.

Coinbase Global Trading Down 1.0 %

COIN stock traded down $1.74 during trading on Tuesday, hitting $174.84. 2,922,008 shares of the company traded hands, compared to its average volume of 9,737,919. The company has a 50-day moving average of $208.05 and a 200-day moving average of $242.29. 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, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The firm has a market capitalization of $44.39 billion, a PE ratio of 18.40 and a beta of 3.65.

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

About Coinbase Global

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.