Meitav Investment House Ltd. Acquires New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global in the 3rd quarter valued at approximately $25,000. Bogart Wealth LLC grew its stake in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 149 shares in the last quarter. Finally, Spirit of America Management Corp NY increased its stake in shares of Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $256.59 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $64.24 billion, a PE ratio of 27.01 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company’s 50 day simple moving average is $277.26 and its 200 day simple moving average is $239.47.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 6.51 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho decreased their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday. JMP Securities lifted their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Oppenheimer reduced their price target on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Finally, The Goldman Sachs Group lowered their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $303.39.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 26,649 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $3,209,894.38. This represents a 71.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 334,306 shares of company stock worth $97,300,651. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Company 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.