Plancorp LLC Purchases Shares of 949 Coinbase Global, Inc. (NASDAQ:COIN)

Plancorp LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 949 shares of the cryptocurrency exchange’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

Shares of COIN opened at $189.86 on Friday. The company has a 50 day moving average price of $247.26 and a 200-day moving average price of $240.97. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The stock has a market capitalization of $48.20 billion, a PE ratio of 19.99 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.

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

Analysts Set New Price Targets

COIN has been the topic of a number of research reports. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday. They set a “neutral” rating and a $195.00 price target for the company. Barclays lifted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Mizuho dropped their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Bank of America dropped their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.72.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

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.