Cibc World Markets Corp Acquires 16,356 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Cibc World Markets Corp boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 147.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,425 shares of the cryptocurrency exchange’s stock after purchasing an additional 16,356 shares during the quarter. Cibc World Markets Corp’s holdings in Coinbase Global were worth $6,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global in the 3rd quarter valued at about $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its stake 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 purchasing an additional 106 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred 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 directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $3,126,037.53. The trade was a 33.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Sanford C. Bernstein began coverage on shares of Coinbase Global in a report on Monday. They issued an “outperform” rating and a $310.00 price objective for the company. Bank of America decreased their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group cut their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $322.78.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $181.14 on Wednesday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $45.99 billion, a price-to-earnings ratio of 19.07 and a beta of 3.66. The firm has a 50 day simple moving average of $251.44 and a 200 day simple moving average of $241.13.

Coinbase Global (NASDAQ:COIN) last released 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%. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.