EULAV Asset Management Has $14.40 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

EULAV Asset Management trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,007 shares of the cryptocurrency exchange’s stock after selling 14,993 shares during the period. EULAV Asset Management’s holdings in Coinbase Global were worth $14,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in COIN. MassMutual Private Wealth & Trust FSB lifted its position in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global during the third quarter valued at approximately $32,000. Spirit of America Management Corp NY grew its holdings in Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after buying an additional 100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Coinbase Global by 408.0% in the 3rd 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 last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on COIN. Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC decreased their price objective on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating for the company in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Finally, Piper Sandler lifted their price target on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $284.06.

Coinbase Global Stock Up 1.5 %

Coinbase Global stock opened at $274.49 on Friday. The firm has a 50 day simple moving average of $285.22 and a 200 day simple moving average of $236.89. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1-year low of $125.81 and a 1-year high of $349.75. The firm has a market capitalization of $68.72 billion, a price-to-earnings ratio of 46.84 and a beta of 3.61.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $142,540.74. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,922,072.67. The trade was a 59.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 401,798 shares of company stock valued at $119,826,444 over the last three months. 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.