M&T Bank Corp Acquires 1,660 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

M&T Bank Corp raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,760 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,660 shares during the quarter. M&T Bank Corp’s holdings in Coinbase Global were worth $2,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the third quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased 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 period. Brown Brothers Harriman & Co. increased its stake in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Finally, Bogart Wealth LLC increased its stake in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The transaction 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 shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $3,074,056.70. The trade was a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 over the last quarter. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COIN has been the topic of several research reports. Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Mizuho cut their price target 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. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $311.21.

Coinbase Global Price Performance

Shares of COIN stock opened at $217.45 on Monday. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The firm has a market capitalization of $55.21 billion, a price-to-earnings ratio of 22.89 and a beta of 3.66. 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’s 50-day simple moving average is $262.21 and its 200-day simple moving average is $241.70.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share 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.