Coinbase Global, Inc. (NASDAQ:COIN) Stake Boosted by J.Safra Asset Management Corp

J.Safra Asset Management Corp grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 96.5% during the 4th quarter, HoldingsChannel reports. The fund owned 611 shares of the cryptocurrency exchange’s stock after acquiring an additional 300 shares during the period. J.Safra Asset Management Corp’s holdings in Coinbase Global were worth $156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COIN. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global during the 3rd quarter valued at $409,919,000. Proficio Capital Partners LLC lifted its stake in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Azora Capital LP lifted its stake in shares of Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at $38,535,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho reduced their price objective on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Bank of America reduced their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Piper Sandler lifted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $311.56.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $222.45 on Thursday. The firm’s 50-day moving average is $264.38 and its 200-day moving average is $241.24. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week 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. The company has a market cap of $56.48 billion, a price-to-earnings ratio of 23.42 and a beta of 3.61.

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

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.