Itau Unibanco Holding S.A. Purchases 950 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Itau Unibanco Holding S.A. raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,891 shares of the cryptocurrency exchange’s stock after buying an additional 950 shares during the period. Itau Unibanco Holding S.A.’s holdings in Coinbase Global were worth $716,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Coinbase Global in the third quarter worth $94,000. Principal Financial Group Inc. boosted its holdings in shares of Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after buying an additional 36,843 shares during the last quarter. Versant Capital Management Inc grew its position in Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after buying an additional 154 shares during the period. GAMMA Investing LLC increased its holdings in Coinbase Global by 25.9% during the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange’s stock worth $258,000 after buying an additional 214 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Coinbase Global in the fourth quarter worth about $1,207,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. This trade represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,970 shares of company stock valued at $38,672,615 over the last 90 days. 23.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COIN. Barclays decreased their price target on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Benchmark assumed coverage on Coinbase Global in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $252.00 target price on the stock. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.90.

Coinbase Global Stock Down 0.8 %

Shares of NASDAQ COIN opened at $201.30 on Friday. The business has a 50-day moving average of $188.67 and a 200-day moving average of $243.12. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 21.19 and a beta of 3.65. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

About Coinbase Global

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.