Huntington National Bank Has $171,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Huntington National Bank increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 32.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 687 shares of the cryptocurrency exchange’s stock after purchasing an additional 170 shares during the period. Huntington National Bank’s holdings in Coinbase Global were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in COIN. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after buying an additional 128,802 shares during the period. Geode Capital Management LLC lifted its stake in Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after acquiring an additional 127,075 shares in the last quarter. Norges Bank acquired a new position in Coinbase Global during the 4th quarter worth approximately $536,484,000. Groupama Asset Managment bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $372,450,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Coinbase Global by 1.7% in the fourth 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 last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $142,540.74. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,609 shares of company stock valued at $52,238,258. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $160.55 on Friday. The company has a market cap of $40.76 billion, a P/E ratio of 16.90 and a beta of 3.65. 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 firm’s fifty day moving average price is $226.99 and its two-hundred day moving average price is $242.60. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective for the company. Mizuho lowered their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. JMP Securities increased their price target 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, Bank of America decreased their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.72.

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.