Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 14.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,980 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,018 shares during the quarter. CIBC Asset Management Inc’s holdings in Coinbase Global were worth $1,981,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares in the last quarter. Finally, Bogart Wealth LLC raised its holdings in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the subject of several research reports. Oppenheimer dropped their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday. Canaccord Genuity Group increased their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Mizuho dropped their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.50.

Coinbase Global Stock Down 8.3 %

Shares of NASDAQ:COIN opened at $235.38 on Friday. The firm has a 50 day simple moving average of $275.76 and a 200-day simple moving average of $239.79. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month 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 company has a market capitalization of $58.93 billion, a PE ratio of 24.78 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 526 shares of the company’s stock, valued at $144,786.76. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 334,306 shares of company stock worth $97,300,651 in the last quarter. 23.43% of the stock is owned by insiders.

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.