EFG Asset Management North America Corp. Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

EFG Asset Management North America Corp. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,042 shares of the cryptocurrency exchange’s stock, valued at approximately $1,499,000.

Several other institutional investors have also recently made changes to their positions in COIN. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth $409,919,000. Proficio Capital Partners LLC grew its holdings in Coinbase Global by 30,664.4% during 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 increased 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 worth $609,789,000 after buying an additional 314,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Coinbase Global in the fourth quarter worth about $56,142,000. Finally, Trivest Advisors Ltd bought a new position in shares of Coinbase Global in the fourth quarter worth about $54,869,000. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $137,322.82. This trade represents a 97.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the company’s stock in a transaction dated 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 owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,034 shares of company stock valued at $57,835,408 over the last ninety days. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Mizuho reduced their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Bank of America lowered 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 note on Tuesday, February 25th. Piper Sandler upped their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Trading Up 0.6 %

Shares of COIN opened at $204.23 on Wednesday. The stock has a market capitalization of $51.85 billion, a PE ratio of 21.50 and a beta of 3.66. The company’s fifty day moving average is $245.27 and its 200 day moving average is $242.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect 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.