Smartleaf Asset Management LLC Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Smartleaf Asset Management LLC increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 31.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 993 shares of the cryptocurrency exchange’s stock after purchasing an additional 236 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Coinbase Global were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Banco Santander S.A. grew its position in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global in the third quarter worth $29,756,000. Lindbrook Capital LLC boosted its holdings in Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares in the last quarter. Wellington Management Group LLP increased its position in Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after purchasing an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Coinbase Global by 237.5% in the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after purchasing an additional 23,040 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COIN. Mizuho cut their target price on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. 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. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. Piper Sandler lifted 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, JMP Securities upped their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

Coinbase Global Trading Up 4.7 %

Shares of NASDAQ COIN opened at $222.45 on Thursday. The company has a market cap of $56.48 billion, a PE ratio of 23.42 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm’s 50 day moving average price is $264.38 and its 200-day moving average price is $241.24. 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 data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,114,162.15. This trade represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock valued at $60,955,968 over the last ninety days. 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.