Meitav Investment House Ltd. Makes New $298,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Meitav Investment House Ltd. bought a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,200 shares of the cryptocurrency exchange's stock, valued at approximately $298,000.

Other hedge funds have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. grew its stake in Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange's stock valued at $66,000 after buying an additional 40 shares in the last quarter. Empowered Funds LLC grew its position in shares of Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after purchasing an additional 43 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock valued at $635,000 after purchasing an additional 44 shares in the last quarter. Capital Advisors Wealth Management LLC grew its position in shares of Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange's stock valued at $365,000 after purchasing an additional 45 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock valued at $106,000 after purchasing an additional 51 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of the 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 directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $161,639.80. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 334,306 shares of company stock valued at $97,300,651 in the last quarter. Company insiders own 23.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COIN shares. HC Wainwright reaffirmed a "buy" rating and set a $350.00 target price on shares of Coinbase Global in a report on Friday. Piper Sandler boosted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Monness Crespi & Hardt boosted their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC restated a "buy" rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $304.50.

Coinbase Global Trading Down 8.3 %

NASDAQ COIN traded down $21.21 during trading on Friday, hitting $235.38. 17,128,111 shares of the company's stock traded hands, compared to its average volume of 8,260,127. The firm has a market cap of $59.76 billion, a P/E ratio of 24.78 and a beta of 3.61. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The stock has a fifty day moving average of $275.76 and a two-hundred day moving average of $239.79. 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 issued 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 EPS 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.