Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Hoey Investments Inc.

Hoey Investments Inc. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 32.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412 shares of the cryptocurrency exchange’s stock after buying an additional 100 shares during the quarter. Hoey Investments Inc.’s holdings in Coinbase Global were worth $102,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after purchasing an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $252,000. Virtu Financial LLC purchased a new stake in Coinbase Global during the third quarter worth about $3,866,000. Savant Capital LLC purchased a new position in Coinbase Global in the fourth quarter valued at about $591,000. Finally, XTX Topco Ltd lifted its position in shares of Coinbase Global by 818.2% during the 3rd quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange’s stock valued at $2,346,000 after acquiring an additional 11,733 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 7.8 %

Shares of COIN stock opened at $173.93 on Monday. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The firm’s 50-day simple moving average is $239.36 and its 200-day simple moving average is $242.83. The firm has a market cap of $44.16 billion, a P/E ratio of 18.31 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

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, 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%. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COIN. Barclays raised their price objective 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. Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Piper Sandler increased their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $104,226.90. The trade was a 95.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,609 shares of company stock worth $61,331,908. 23.43% of the stock is owned by insiders.

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.