HM Payson & Co. Cuts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

HM Payson & Co. lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 742 shares of the cryptocurrency exchange’s stock after selling 84 shares during the quarter. HM Payson & Co.’s holdings in Coinbase Global were worth $184,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the 3rd quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% in the 4th 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 in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a report on Friday. They issued a “buy” rating and a $305.00 price target for the company. Piper Sandler increased their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. HC Wainwright reiterated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Finally, Mizuho cut their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $311.21.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This represents a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 in the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $217.45 on Monday. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The stock has a market capitalization of $55.21 billion, a P/E ratio of 22.89 and a beta of 3.66. The firm’s 50-day moving average is $262.21 and its two-hundred day moving average is $241.70. 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) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.