Amalgamated Bank Buys 585 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Amalgamated Bank raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,118 shares of the cryptocurrency exchange’s stock after acquiring an additional 585 shares during the period. Amalgamated Bank’s holdings in Coinbase Global were worth $3,257,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after buying an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth approximately $409,919,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after buying an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC grew its holdings in shares of Coinbase Global by 4.7% in the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after acquiring an additional 17,650 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on COIN shares. Barclays lifted their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the completion of the sale, the insider now directly owns 69,407 shares in the company, valued at $21,218,413.97. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,069 shares of company stock valued at $66,488,684 in the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $215.73 on Friday. 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 $54.77 billion, a price-to-earnings ratio of 22.71 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 stock’s 50-day simple moving average is $268.11 and its 200 day simple moving average is $240.95.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results 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 forecast 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.