Cibc World Markets Corp Has $6.81 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Cibc World Markets Corp lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 147.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,425 shares of the cryptocurrency exchange’s stock after buying 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.

A number of other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after acquiring an additional 36,843 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Coinbase Global by 8.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock valued at $265,000 after purchasing an additional 110 shares in the last quarter. Victory Capital Management Inc. grew its stake in Coinbase Global by 6.7% during the third quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock worth $11,552,000 after purchasing an additional 4,076 shares during the period. CIBC Asset Management Inc increased its holdings in Coinbase Global by 5.6% in the third quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange’s stock worth $1,240,000 after purchasing an additional 367 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. 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. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Down 4.1 %

COIN opened at $181.14 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The firm has a market capitalization of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66. The company’s 50-day moving average is $251.44 and its 200 day moving average is $241.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

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

Analyst Ratings Changes

Several analysts have recently weighed in on COIN shares. Piper Sandler lifted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays upped their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. The Goldman Sachs Group reduced their target price 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. 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. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $322.78.

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.