J. Safra Sarasin Holding AG bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,880 shares of the cryptocurrency exchange's stock, valued at approximately $4,440,000.
A number of other institutional investors have also recently added to or reduced their stakes in COIN. McElhenny Sheffield Capital Management LLC bought a new stake in Coinbase Global during the fourth quarter worth approximately $252,000. Virtu Financial LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $3,866,000. Savant Capital LLC acquired a new position in shares of Coinbase Global in the 4th quarter worth $591,000. Principal Financial Group Inc. raised its position in shares of Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after purchasing an additional 36,843 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $1,207,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $142,540.74. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,395 shares of company stock valued at $31,207,615 in the last three months. Company insiders own 23.43% of the company's stock.
Coinbase Global Stock Performance
Shares of NASDAQ COIN traded up $5.77 during trading hours on Friday, hitting $209.64. 8,041,545 shares of the stock were exchanged, compared to its average volume of 9,685,593. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The company's 50 day moving average is $193.01 and its 200 day moving average is $242.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $53.22 billion, a P/E ratio of 22.07 and a beta of 3.65.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly 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 return on equity of 20.64% and a net margin of 39.34%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on COIN shares. JMP Securities dropped their price target on Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. HC Wainwright restated a "buy" rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a "neutral" rating and a $195.00 price objective on the stock. Finally, Barclays lowered their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $295.65.
Read Our Latest Analysis on COIN
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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