Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Bogart Wealth LLC

Bogart Wealth LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 252.5% in the 4th quarter, Holdings Channel reports. The firm owned 208 shares of the cryptocurrency exchange’s stock after buying an additional 149 shares during the quarter. Bogart Wealth LLC’s holdings in Coinbase Global were worth $52,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings 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 valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at $409,919,000. Charles Schwab Investment Management Inc. increased its holdings in Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after purchasing an additional 52,856 shares in the last quarter. Finally, Ribbit Management Company LLC increased its holdings in Coinbase Global by 4.7% in the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after purchasing an additional 17,650 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America raised their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and raised their target price for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. HC Wainwright raised their target price on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Finally, JMP Securities raised their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $301.17.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $274.31 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $280.97 and its two-hundred day moving average price is $238.26. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The stock has a market capitalization of $68.67 billion, a P/E ratio of 46.81 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $144,786.76. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 386,798 shares of company stock valued at $114,707,944 over the last quarter. Insiders own 23.43% of the company’s stock.

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.