K.J. Harrison & Partners Inc Acquires Shares of 8,200 Coinbase Global, Inc. (NASDAQ:COIN)

K.J. Harrison & Partners Inc bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,200 shares of the cryptocurrency exchange’s stock, valued at approximately $2,109,000.

Other large investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $34,000 after purchasing an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of 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 purchasing an additional 204 shares in the last quarter. Finally, Bogart Wealth LLC increased its stake in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COIN has been the subject of several recent analyst reports. Canaccord Genuity Group upped their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, JMP Securities boosted their target price on shares of 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Coinbase Global Trading Up 0.2 %

NASDAQ COIN opened at $212.96 on Thursday. The firm has a market capitalization of $54.07 billion, a PE ratio of 22.42 and a beta of 3.61. The business’s 50-day moving average price is $270.68 and its two-hundred day moving average price is $240.71. 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, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $3,114,162.15. The trade was a 70.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $144,786.76. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,091 shares of company stock valued at $64,162,116. 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.