2,040 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by KCM Investment Advisors LLC

KCM Investment Advisors LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, HoldingsChannel.com reports. The firm bought 2,040 shares of the cryptocurrency exchange’s stock, valued at approximately $507,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after buying an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $252,000. Virtu Financial LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $3,866,000. Savant Capital LLC bought a new stake in shares of Coinbase Global in the fourth quarter worth $591,000. Finally, XTX Topco Ltd boosted its holdings in Coinbase Global by 818.2% during the third quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange’s stock worth $2,346,000 after purchasing an additional 11,733 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price target on the stock. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a report on Tuesday, February 18th. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Piper Sandler boosted their price target 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, Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $160.55 on Monday. The firm has a market cap of $40.76 billion, a P/E ratio of 16.90 and a beta of 3.65. The business’s 50 day moving average is $226.99 and its 200-day moving average is $243.17. 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 1-year low of $145.45 and a 1-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 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value 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 trade represents a 95.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,767 shares of company stock worth $45,798,184. Corporate insiders own 23.43% of the company’s stock.

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.