EFG Asset Management North America Corp. Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

EFG Asset Management North America Corp. bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, Holdings Channel.com reports. The fund bought 6,042 shares of the cryptocurrency exchange’s stock, valued at approximately $1,499,000.

A number of other large investors have also recently made changes to their positions in the stock. Clear Street Derivatives LLC bought a new stake in Coinbase Global during the 3rd quarter valued at about $409,919,000. Proficio Capital Partners LLC increased its position in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after acquiring an additional 417,036 shares during the period. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $56,142,000. Finally, Trivest Advisors Ltd bought a new position in Coinbase Global in the fourth quarter worth approximately $54,869,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on COIN. Piper Sandler raised their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. HC Wainwright restated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Barclays upped their price objective 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. 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 upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Price Performance

NASDAQ COIN opened at $204.23 on Wednesday. The firm’s fifty day simple moving average is $245.27 and its two-hundred day simple moving average is $242.22. The firm has a market capitalization of $51.85 billion, a P/E ratio of 21.50 and a beta of 3.66. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its 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 return on equity of 20.64% and a net margin of 39.34%. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This trade represents a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,034 shares of company stock worth $57,835,408. 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.