New York Life Investment Management LLC Makes New $847,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

New York Life Investment Management LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,412 shares of the cryptocurrency exchange’s stock, valued at approximately $847,000.

A number of other large investors have also added to or reduced their stakes in COIN. Creative Financial Designs Inc. ADV grew its holdings in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Coinbase Global by 20.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 38,634 shares of the cryptocurrency exchange’s stock worth $6,883,000 after acquiring an additional 6,466 shares during the last quarter. Van ECK Associates Corp grew its holdings in Coinbase Global by 110.4% in the 3rd quarter. Van ECK Associates Corp now owns 198,788 shares of the cryptocurrency exchange’s stock worth $35,418,000 after acquiring an additional 104,292 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $238,000. Finally, KG&L Capital Management LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $1,135,000. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,386,983.38. This represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 227,069 shares of company stock valued at $63,431,584. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Barclays lifted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research note on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

Coinbase Global Stock Down 4.6 %

Shares of Coinbase Global stock opened at $205.75 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $52.24 billion, a PE ratio of 21.66 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a 50-day simple moving average of $266.87 and a two-hundred day simple moving average of $241.32.

Coinbase Global (NASDAQ:COIN) last issued its earnings results 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%. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.