J.Safra Asset Management Corp Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

J.Safra Asset Management Corp raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 96.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 611 shares of the cryptocurrency exchange’s stock after buying an additional 300 shares during the period. J.Safra Asset Management Corp’s holdings in Coinbase Global were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Janney Montgomery Scott LLC boosted its position in Coinbase Global by 20.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 38,634 shares of the cryptocurrency exchange’s stock valued at $6,883,000 after buying an additional 6,466 shares during the last quarter. National Pension Service boosted its position in Coinbase Global by 15.6% in the 3rd quarter. National Pension Service now owns 265,646 shares of the cryptocurrency exchange’s stock valued at $47,330,000 after buying an additional 35,839 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Coinbase Global by 3.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 68,193 shares of the cryptocurrency exchange’s stock valued at $12,150,000 after buying an additional 2,352 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after purchasing an additional 23,040 shares during the last quarter. Finally, Crescent Grove Advisors LLC bought a new position in shares of Coinbase Global during the third quarter worth about $206,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 4.7 %

Coinbase Global stock opened at $222.45 on Thursday. 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 firm has a market cap of $56.48 billion, a price-to-earnings ratio of 23.42 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm’s 50 day moving average price is $264.38 and its two-hundred day moving average price is $241.24.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now 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. In the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COIN. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Bank of America reduced their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has an average 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.