Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,546 shares of the cryptocurrency exchange’s stock after buying an additional 778 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Coinbase Global were worth $4,357,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new position in Coinbase Global in the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB boosted 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 worth $34,000 after buying an additional 106 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the third quarter valued at about $25,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $50,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COIN has been the subject of several research reports. Mizuho cut their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. The Goldman Sachs Group began coverage on Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $305.00 price objective on shares of Coinbase Global in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Bank of America cut their price objective 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. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.72.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 directly owns 10,417 shares of the company’s stock, valued at $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,609 shares of company stock valued at $61,331,908 over the last three months. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Down 2.8 %

NASDAQ COIN opened at $188.58 on Friday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The firm has a market cap of $47.88 billion, a PE ratio of 19.85 and a beta of 3.66. The firm’s fifty day moving average is $241.79 and its two-hundred day moving average is $241.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

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

About Coinbase Global

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.