1,030 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Allianz SE

Allianz SE bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,030 shares of the cryptocurrency exchange’s stock, valued at approximately $263,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after purchasing an additional 128,802 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 10.1% in 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 buying an additional 314,388 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in Coinbase Global during the 3rd quarter worth about $409,919,000. Norges Bank acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $536,484,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Coinbase Global by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after buying an additional 15,954 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 7.8 %

COIN opened at $173.93 on Monday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $239.36 and its 200-day moving average price is $242.83. The company has a market cap of $44.16 billion, a P/E ratio of 18.31 and a beta of 3.66. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $104,226.90. The trade was a 95.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,609 shares of company stock valued at $61,331,908. 23.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on COIN. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. The Goldman Sachs Group initiated coverage on Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price target for the company. Mizuho cut their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Bank of America decreased their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Barclays lifted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Seven investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global 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.