K.J. Harrison & Partners Inc Invests $2.11 Million in Coinbase Global, Inc. (NASDAQ:COIN)

K.J. Harrison & Partners Inc acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,200 shares of the cryptocurrency exchange’s stock, valued at approximately $2,109,000.

Several other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Coinbase Global by 36.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after acquiring an additional 952 shares during the last quarter. PFG Investments LLC grew its stake in shares of Coinbase Global by 65.2% during the third quarter. PFG Investments LLC now owns 1,900 shares of the cryptocurrency exchange’s stock worth $339,000 after purchasing an additional 750 shares during the period. abrdn plc increased its holdings in Coinbase Global by 625.1% in the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock valued at $6,198,000 after purchasing an additional 29,990 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Coinbase Global by 104.4% in the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after buying an additional 1,005 shares during the period. Finally, Pathway Financial Advisers LLC boosted its holdings in Coinbase Global by 16,928.6% during the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock worth $637,000 after buying an additional 3,555 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 0.2 %

Shares of COIN stock opened at $212.96 on Thursday. The firm’s fifty day moving average price is $270.68 and its two-hundred day moving average price is $240.71. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm has a market capitalization of $54.07 billion, a P/E ratio of 22.42 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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%. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on COIN shares. Piper Sandler upped 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. Mizuho cut their target price on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, JMP Securities boosted their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 69,407 shares of the company’s stock, valued at approximately $21,218,413.97. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,091 shares of company stock worth $64,162,116. Company insiders own 23.43% of the company’s stock.

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.