Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Korea Investment CORP

Korea Investment CORP lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 109.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,350 shares of the cryptocurrency exchange’s stock after buying an additional 56,500 shares during the period. Korea Investment CORP’s holdings in Coinbase Global were worth $26,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Brown Brothers Harriman & Co. increased its holdings in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 10,000 shares of the firm’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 transaction of $1,981,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,226.90. This trade represents a 95.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,609 shares of company stock valued at $61,331,908 over the last quarter. Company insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 7.8 %

NASDAQ COIN opened at $173.93 on Friday. The firm’s fifty day moving average price is $239.36 and its 200 day moving average price is $241.64. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. 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 company has a market capitalization of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66.

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 return on equity of 20.64% and a net margin of 39.34%. On average, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $305.00 price target on shares of Coinbase Global in a research report on Wednesday. Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Barclays lifted 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. Finally, Piper Sandler increased 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. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.72.

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.