Generali Asset Management SPA SGR Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Generali Asset Management SPA SGR bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,887 shares of the cryptocurrency exchange’s stock, valued at approximately $7,421,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in Coinbase Global during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its stake in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter valued at $25,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COIN. Bank of America lowered their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Rosenblatt Securities assumed coverage on Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 price objective for the company. Sanford C. Bernstein assumed coverage on Coinbase Global in a report on Monday. They issued an “outperform” rating and a $310.00 target price for the company. Finally, Canaccord Genuity Group lifted their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Coinbase Global Stock Performance

Shares of COIN opened at $181.14 on Wednesday. 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, Inc. has a one year low of $146.12 and a one year high of $349.75. The firm has a market capitalization of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66. The business has a fifty day moving average of $251.44 and a 200 day moving average of $241.13.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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 anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction 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 transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction on Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. Corporate insiders own 23.43% of the company’s stock.

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.