KCM Investment Advisors LLC Invests $507,000 in Coinbase Global, Inc. (NASDAQ:COIN)

KCM Investment Advisors LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,040 shares of the cryptocurrency exchange's stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Coinbase Global during the 4th quarter worth $536,484,000. Groupama Asset Managment bought a new stake in shares of Coinbase Global during the fourth quarter valued at about $372,450,000. Proficio Capital Partners LLC lifted its holdings in Coinbase Global by 30,664.4% in the fourth 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 period. Geode Capital Management LLC grew its position in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock valued at $609,789,000 after buying an additional 314,388 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the transaction, the director now owns 10,417 shares of the company's stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now directly owns 124,470 shares in the company, valued at approximately $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,767 shares of company stock valued at $48,326,134. Company insiders own 23.43% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. The Goldman Sachs Group initiated coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price objective on the stock. 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 note on Tuesday. Finally, Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $298.74.

Coinbase Global Stock Down 8.2 %

Coinbase Global stock traded down $14.51 during trading hours on Thursday, hitting $162.58. The company had a trading volume of 5,328,315 shares, compared to its average volume of 9,751,375. The firm's fifty day moving average is $214.42 and its 200-day moving average is $241.91. The firm has a market capitalization of $41.27 billion, a P/E ratio of 17.28 and a beta of 3.65. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Profile

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.