Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Hoey Investments Inc.

Hoey Investments Inc. lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 32.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 412 shares of the cryptocurrency exchange’s stock after purchasing an additional 100 shares during the period. Hoey Investments Inc.’s holdings in Coinbase Global were worth $102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in COIN. Wellington Management Group LLP lifted its holdings in Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after buying an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth about $252,000. Virtu Financial LLC purchased a new position in Coinbase Global in the third quarter valued at about $3,866,000. Savant Capital LLC acquired a new stake in Coinbase Global during the 4th quarter valued at approximately $591,000. Finally, XTX Topco Ltd increased its holdings in Coinbase Global by 818.2% during the 3rd quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange’s stock worth $2,346,000 after purchasing an additional 11,733 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction on 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 sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 225,609 shares of company stock valued at $61,331,908. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 7.8 %

Shares of Coinbase Global stock opened at $173.93 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The business’s fifty day moving average price is $239.36 and its two-hundred day moving average price is $242.83. The company has a market capitalization of $44.16 billion, a P/E ratio of 18.31 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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, research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the subject of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $305.00 target price on shares of Coinbase Global in a research note on Wednesday, March 26th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Barclays boosted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. 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 research report on Friday, February 14th. Finally, The Goldman Sachs Group initiated coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.