Allianz SE Makes New $263,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Allianz SE acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,030 shares of the cryptocurrency exchange’s stock, valued at approximately $263,000.

Other hedge funds have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global in the fourth quarter valued at about $50,000. Finally, Bogart Wealth LLC raised its stake in shares of Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock valued at $61,331,908 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 7.8 %

Shares of COIN stock opened at $173.93 on Monday. The company has a market capitalization of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $239.36 and a 200 day moving average price of $242.83. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results 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 net margin of 39.34% and a return on equity of 20.64%. Research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. Mizuho decreased their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Bank of America lowered their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.