Central Asset Investments & Management Holdings HK Ltd Makes New $546,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Central Asset Investments & Management Holdings HK Ltd bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,200 shares of the cryptocurrency exchange’s stock, valued at approximately $546,000.

Several other institutional investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global in the third quarter worth approximately $25,000. Bogart Wealth LLC raised its holdings 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 buying an additional 149 shares during the period. Finally, Spirit of America Management Corp NY lifted its stake in shares of Coinbase Global by 66.7% during the 4th quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $305.71, for a total value of $3,057,100.00. Following the completion of the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $21,218,413.97. This trade represents a 12.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,091 shares of company stock valued at $64,162,116. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

COIN opened at $212.96 on Thursday. The firm has a market capitalization of $54.07 billion, a PE ratio of 22.42 and a beta of 3.61. 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 business’s 50-day moving average is $270.68 and its two-hundred day moving average is $240.71. Coinbase Global, Inc. has a 1 year low of $146.12 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 earnings per share (EPS) for the quarter, topping 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 anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Mizuho reduced their target price on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. JMP Securities boosted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Piper Sandler raised their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Canaccord Genuity Group boosted their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

About Coinbase Global

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.