Huntington National Bank Acquires 170 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Huntington National Bank grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 32.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 687 shares of the cryptocurrency exchange’s stock after purchasing an additional 170 shares during the period. Huntington National Bank’s holdings in Coinbase Global were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. SOA Wealth Advisors LLC. grew its position in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC increased its position in shares of Coinbase Global by 4.3% during the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after purchasing an additional 44 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its position in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 shares in the last quarter. Finally, IPG Investment Advisors LLC grew its stake in Coinbase Global by 2.0% during the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after buying an additional 45 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $142,540.74. The trade was a 97.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,609 shares of company stock worth $52,238,258. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 6.0 %

Shares of Coinbase Global stock opened at $160.55 on Friday. The business has a fifty day simple moving average of $226.99 and a 200 day simple moving average of $242.60. The stock has a market cap of $40.76 billion, a PE ratio of 16.90 and a beta of 3.65. The company has a quick ratio of 2.28, a current 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 posted its earnings results 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 return on equity of 20.64% and a net margin of 39.34%. Research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research report on Tuesday, February 18th. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, HC Wainwright reissued a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

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.