HUB Investment Partners LLC Invests $584,000 in Coinbase Global, Inc. (NASDAQ:COIN)

HUB Investment Partners LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,351 shares of the cryptocurrency exchange's stock, valued at approximately $584,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of 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. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth about $409,919,000. Charles Schwab Investment Management Inc. increased its position in shares of Coinbase Global by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange's stock valued at $232,168,000 after buying an additional 15,954 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Finally, Ribbit Management Company LLC lifted its holdings in Coinbase Global by 4.7% in the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange's stock valued at $70,217,000 after purchasing an additional 17,650 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now owns 69,407 shares of the company's stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,034 shares of company stock worth $57,835,408. Company insiders own 23.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COIN shares. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research note on Tuesday, February 18th. Oppenheimer reissued an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. JMP Securities increased their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Barclays increased their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Seven 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $314.72.

Coinbase Global Stock Performance

Shares of COIN traded down $1.38 during mid-day trading on Tuesday, hitting $201.66. 3,785,594 shares of the company's stock were exchanged, compared to its average volume of 9,663,730. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The business's 50 day moving average is $246.30 and its two-hundred day moving average is $241.82. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $51.20 billion, a P/E ratio of 21.29 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.