Regal Partners Ltd acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,906 shares of the cryptocurrency exchange's stock, valued at approximately $1,466,000.
Other institutional investors have also recently added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth about $252,000. Virtu Financial LLC purchased a new stake in Coinbase Global during the 3rd quarter worth approximately $3,866,000. Savant Capital LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at approximately $591,000. Principal Financial Group Inc. boosted its stake in shares of Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after buying an additional 36,843 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth approximately $1,207,000. Institutional investors and hedge funds own 68.84% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a report on Monday, February 10th. Piper Sandler upped their target price 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. Rosenblatt Securities decreased their price target on Coinbase Global from $290.00 to $260.00 and set a "buy" rating for the company in a research note on Friday. Mizuho cut their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Coinbase Global has an average rating of "Moderate Buy" and a consensus target price of $285.95.
Read Our Latest Stock Analysis on Coinbase Global
Coinbase Global Stock Performance
NASDAQ:COIN traded up $3.63 during mid-day trading on Friday, hitting $204.93. The stock had a trading volume of 6,104,672 shares, compared to its average volume of 9,613,867. 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 company has a 50 day simple moving average of $188.51 and a 200-day simple moving average of $243.40. The stock has a market capitalization of $52.03 billion, a price-to-earnings ratio of 21.57 and a beta of 3.65. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75.
Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results 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%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.
Insider Buying and Selling at Coinbase Global
In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,970 shares of company stock valued at $38,672,615 in the last quarter. Corporate insiders own 23.43% of the company's stock.
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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