Aigen Investment Management LP Buys Shares of 2,207 Coinbase Global, Inc. (NASDAQ:COIN)

Aigen Investment Management LP bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,207 shares of the cryptocurrency exchange’s stock, valued at approximately $548,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC purchased a new stake in Coinbase Global in the third quarter valued at approximately $409,919,000. Proficio Capital Partners LLC raised its position in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the period. Geode Capital Management LLC raised its position in Coinbase Global by 10.1% in the third 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 during the period. Azora Capital LP raised its position in Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Coinbase Global in the third quarter valued at approximately $38,535,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $2,846,236.91. This represents a 52.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of research analyst reports. JMP Securities boosted their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Mizuho cut their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Piper Sandler upped their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

Coinbase Global Stock Performance

Shares of COIN stock opened at $214.17 on Friday. 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 $146.12 and a 12 month high of $349.75. The company has a market cap of $54.37 billion, a P/E ratio of 22.54 and a beta of 3.66. The firm has a fifty day moving average price of $263.18 and a 200 day moving average price of $241.06.

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%. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Coinbase Global 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.