Howard Capital Management Inc. Increases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Howard Capital Management Inc. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,371 shares of the cryptocurrency exchange’s stock after buying an additional 67 shares during the period. Howard Capital Management Inc.’s holdings in Coinbase Global were worth $340,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of COIN. International Assets Investment Management LLC purchased a new position in shares of Coinbase Global during the third quarter valued at approximately $26,665,000. Assenagon Asset Management S.A. boosted its position in Coinbase Global by 36.2% in the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock worth $638,000 after purchasing an additional 952 shares during the last quarter. Ballentine Partners LLC boosted its position in Coinbase Global by 6.0% in the third quarter. Ballentine Partners LLC now owns 3,313 shares of the cryptocurrency exchange’s stock worth $590,000 after purchasing an additional 189 shares during the last quarter. Forsta AP Fonden boosted its position in Coinbase Global by 15.2% in the third quarter. Forsta AP Fonden now owns 39,500 shares of the cryptocurrency exchange’s stock worth $7,038,000 after purchasing an additional 5,200 shares during the last quarter. Finally, PFG Investments LLC boosted its position in Coinbase Global by 65.2% in the third quarter. PFG Investments LLC now owns 1,900 shares of the cryptocurrency exchange’s stock worth $339,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COIN. Canaccord Genuity Group boosted their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research report on Tuesday, February 18th. Mizuho cut their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Barclays boosted their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.17.

Coinbase Global Price Performance

COIN opened at $227.07 on Tuesday. The stock has a 50-day moving average price of $273.99 and a 200-day moving average price of $240.78. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. 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 stock has a market capitalization of $57.65 billion, a P/E ratio of 23.90 and a beta of 3.61.

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

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $305.71, for a total value of $3,057,100.00. Following the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $21,218,413.97. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,091 shares of company stock worth $64,162,116 in the last ninety days. 23.43% of the stock is owned by company insiders.

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.