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

Generali Asset Management SPA SGR acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,887 shares of the cryptocurrency exchange’s stock, valued at approximately $7,421,000.

Other large investors have also made changes to their positions in the company. Banco Santander S.A. lifted its position in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after acquiring an additional 16,737 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after acquiring an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $252,000. Virtu Financial LLC purchased a new stake in shares of Coinbase Global in the third quarter worth about $3,866,000. Finally, Blueshift Asset Management LLC lifted its position in shares of Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock worth $3,359,000 after buying an additional 16,998 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This represents a 52.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 over the last quarter. 23.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on COIN shares. Bank of America decreased their target price 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. Sanford C. Bernstein started coverage on Coinbase Global in a research report on Monday. They issued an “outperform” rating and a $310.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $322.78.

Coinbase Global Trading Down 4.1 %

COIN opened at $181.14 on Wednesday. The stock has a market cap of $45.99 billion, a price-to-earnings ratio of 19.07 and a beta of 3.66. The stock’s 50 day moving average price is $251.44 and its 200-day moving average price is $241.13. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. 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 released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS 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.