KCM Investment Advisors LLC Buys New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

KCM Investment Advisors LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,040 shares of the cryptocurrency exchange’s stock, valued at approximately $507,000.

A number of other institutional investors have also recently bought and sold shares of COIN. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after acquiring an additional 128,802 shares during the period. Geode Capital Management LLC lifted its stake in Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after purchasing an additional 127,075 shares during the period. Norges Bank acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $372,450,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after purchasing an additional 15,954 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the transaction, the chief financial officer now directly owns 124,470 shares of the company’s stock, valued at $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $104,226.90. This represents a 95.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 167,767 shares of company stock worth $45,798,184 in the last three months. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on COIN. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Bank of America dropped their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Price Performance

Coinbase Global stock opened at $160.55 on Monday. The stock has a market cap of $40.76 billion, a price-to-earnings ratio of 16.90 and a beta of 3.65. Coinbase Global, Inc. has a 12-month low of $145.45 and a 12-month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business’s 50-day simple moving average is $226.99 and its 200 day simple moving average is $243.17.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.