Plancorp LLC Purchases Shares of 949 Coinbase Global, Inc. (NASDAQ:COIN)

Plancorp LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 949 shares of the cryptocurrency exchange’s stock, valued at approximately $236,000.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its stake 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 in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in Coinbase Global during the 4th quarter valued at approximately $252,000. Virtu Financial LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at $3,866,000. Blueshift Asset Management LLC boosted its holdings in shares of Coinbase Global by 916.8% in the 3rd quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock valued at $3,359,000 after acquiring an additional 16,998 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $591,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In related news, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 over the last three months. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a report on Thursday. They issued a “neutral” rating and a $195.00 price objective on the stock. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Bank of America dropped their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Seven investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Stock Performance

COIN opened at $189.86 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $48.20 billion, a price-to-earnings ratio of 19.99 and a beta of 3.66. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The firm’s fifty day simple moving average is $247.26 and its two-hundred day simple moving average is $240.97.

Coinbase Global (NASDAQ:COIN) last issued 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 net margin of 39.34% and a return on equity of 20.64%. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.