Y Intercept Hong Kong Ltd Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Y Intercept Hong Kong Ltd purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, Holdings Channel.com reports. The firm purchased 20,412 shares of the cryptocurrency exchange’s stock, valued at approximately $5,068,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% in 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 period. Brown Brothers Harriman & Co. lifted its holdings in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Finally, Bogart Wealth LLC lifted its holdings in shares of Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. HC Wainwright restated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $306.17.

Coinbase Global Trading Down 8.3 %

COIN stock opened at $235.38 on Monday. The business’s 50 day moving average is $275.76 and its 200-day moving average is $240.54. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The firm has a market cap of $59.76 billion, a P/E ratio of 24.78 and a beta of 3.61. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

Insiders Place Their Bets

In other Coinbase Global 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 sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total transaction of $447,465.00. Following the sale, the chief operating officer now directly owns 177,576 shares in the company, valued at $52,972,696.56. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,591 shares of company stock valued at $64,609,581. 23.43% of the stock is currently owned by insiders.

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.