Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Increased by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 39.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,218 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,324 shares during the quarter. D.A. Davidson & CO.’s holdings in Coinbase Global were worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in COIN. Truist Financial Corp raised its position in Coinbase Global by 18.8% during the fourth quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange’s stock valued at $1,633,000 after acquiring an additional 1,040 shares in the last quarter. CIBC Asset Management Inc raised its position in Coinbase Global by 14.6% during the fourth quarter. CIBC Asset Management Inc now owns 7,980 shares of the cryptocurrency exchange’s stock valued at $1,981,000 after acquiring an additional 1,018 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in Coinbase Global by 0.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 71,245 shares of the cryptocurrency exchange’s stock valued at $17,690,000 after acquiring an additional 556 shares in the last quarter. Allworth Financial LP raised its position in Coinbase Global by 4.1% during the fourth quarter. Allworth Financial LP now owns 2,265 shares of the cryptocurrency exchange’s stock valued at $562,000 after acquiring an additional 90 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Coinbase Global during the fourth quarter valued at approximately $5,696,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction on Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now owns 79,407 shares in the company, valued at $24,441,474.60. The trade was a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lawrence J. Brock sold 15,858 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $298.98, for a total transaction of $4,741,224.84. Following the completion of the sale, the insider now owns 21,019 shares in the company, valued at $6,284,260.62. This represents a 43.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 334,306 shares of company stock worth $97,300,651 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 8.3 %

COIN opened at $235.38 on Friday. Coinbase Global, Inc. has a fifty-two week low of $146.12 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. The firm’s fifty day moving average price is $275.76 and its two-hundred day moving average price is $239.79. The company has a market capitalization of $58.93 billion, a P/E ratio of 24.78 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer cut their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $304.50.

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.