Elo Mutual Pension Insurance Co Raises Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Elo Mutual Pension Insurance Co grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,546 shares of the cryptocurrency exchange’s stock after purchasing 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 reporting period.

Other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global in the 3rd quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Coinbase Global by 365.5% in the 4th 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 in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $188.58 on Friday. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company’s 50 day simple moving average is $241.79 and its 200 day simple moving average is $241.51. The stock has a market capitalization of $47.88 billion, a PE ratio of 19.85 and a beta of 3.66. 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 announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $104,226.90. The trade was a 95.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,609 shares of company stock worth $61,331,908. 23.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Mizuho reduced their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. 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. Barclays boosted their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, 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. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Company 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.