Clare Market Investments LLC Buys New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Clare Market Investments LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,803 shares of the cryptocurrency exchange’s stock, valued at approximately $696,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after acquiring an additional 71,398 shares during the period. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at about $409,919,000. Charles Schwab Investment Management Inc. raised its position in Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after purchasing an additional 15,954 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 in the last quarter. 23.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COIN. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. 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 research report on Tuesday, February 18th. Bank of America reduced their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Mizuho reduced their price target 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. Ten equities 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, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $311.21.

Coinbase Global Trading Down 17.6 %

NASDAQ:COIN opened at $179.23 on Tuesday. The stock’s 50 day moving average price is $260.68 and its 200 day moving average price is $241.57. The company has a market capitalization of $45.50 billion, a PE ratio of 18.87 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

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 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 anticipate that Coinbase Global, Inc. will post 7.22 EPS 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.