20,412 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,412 shares of the cryptocurrency exchange’s stock, valued at approximately $5,068,000.

Other institutional investors have also modified their holdings of the company. Howard Capital Management Inc. boosted its position in Coinbase Global by 5.1% during the fourth quarter. Howard Capital Management Inc. now owns 1,371 shares of the cryptocurrency exchange’s stock worth $340,000 after purchasing an additional 67 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Coinbase Global by 19.2% during the fourth quarter. First Horizon Advisors Inc. now owns 621 shares of the cryptocurrency exchange’s stock worth $154,000 after purchasing an additional 100 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Coinbase Global by 162.6% in the 4th quarter. Sigma Planning Corp now owns 3,508 shares of the cryptocurrency exchange’s stock worth $871,000 after buying an additional 2,172 shares in the last quarter. Matauro LLC purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $235,000. Finally, Transcend Capital Advisors LLC boosted its position in shares of Coinbase Global by 1.2% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange’s stock worth $1,159,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COIN. JMP Securities upped their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Mizuho reduced their target price on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.17.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the completion of the sale, the insider now directly owns 69,407 shares in the company, valued at $21,218,413.97. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,074,056.70. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 227,591 shares of company stock worth $64,609,581. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $235.38 on Monday. The firm has a market capitalization of $59.76 billion, a PE ratio of 24.78 and a beta of 3.61. 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 business has a 50-day moving average of $275.76 and a two-hundred day moving average of $240.54. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its 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 net margin of 39.34% and a return on equity of 20.64%. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.