Harbour Investments Inc. Raises Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Harbour Investments Inc. increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,165 shares of the cryptocurrency exchange’s stock after purchasing an additional 450 shares during the period. Harbour Investments Inc.’s holdings in Coinbase Global were worth $786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Clear Street Derivatives LLC bought a new stake in Coinbase Global during the third quarter worth about $409,919,000. Proficio Capital Partners LLC raised its holdings in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 worth $609,789,000 after buying an additional 314,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Coinbase Global in the fourth quarter worth approximately $56,142,000. Finally, Azora Capital LP grew its position in Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on 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 sale, the insider now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on COIN shares. Bank of America lowered their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Mizuho reduced their price objective 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. Rosenblatt Securities initiated coverage on Coinbase Global in a research note on Friday, March 7th. They issued a “buy” rating and a $305.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $322.78.

Coinbase Global Trading Up 4.8 %

Shares of COIN opened at $189.75 on Thursday. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $250.03 and its 200-day moving average price is $240.77. The firm has a market capitalization of $48.17 billion, a price-to-earnings ratio of 19.97 and a beta of 3.66.

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