Catalyst Funds Management Pty Ltd Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Catalyst Funds Management Pty Ltd bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,100 shares of the cryptocurrency exchange’s stock, valued at approximately $4,743,000. Coinbase Global accounts for approximately 1.2% of Catalyst Funds Management Pty Ltd’s investment portfolio, making the stock its 16th largest holding.

Several other large investors have also modified their holdings of COIN. Banco Santander S.A. increased its stake in Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after buying an additional 16,737 shares during the period. Wellington Management Group LLP increased its stake in shares of Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new position in Coinbase Global during the fourth quarter worth about $252,000. Virtu Financial LLC acquired a new stake in Coinbase Global in the third quarter valued at about $3,866,000. Finally, Blueshift Asset Management LLC boosted its holdings in Coinbase Global by 916.8% in the 3rd quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock valued at $3,359,000 after purchasing an additional 16,998 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COIN shares. Bank of America cut their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. JMP Securities raised their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.89.

Coinbase Global Trading Up 3.2 %

Shares of COIN opened at $183.12 on Friday. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a market capitalization of $46.49 billion, a PE ratio of 19.28 and a beta of 3.66. The stock has a fifty day moving average of $255.08 and a two-hundred day moving average of $240.49. 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 released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the 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 owns 526 shares of the company’s stock, valued at $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction 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 approximately $3,126,037.53. This trade represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 in the last three months. 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.