Pilgrim Partners Asia Pte Ltd Acquires Shares of 10,030 Coinbase Global, Inc. (NASDAQ:COIN)

Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 10,030 shares of the cryptocurrency exchange’s stock, valued at approximately $2,490,000. Coinbase Global comprises approximately 2.2% of Pilgrim Partners Asia Pte Ltd’s portfolio, making the stock its 13th largest holding.

A number of other large investors also recently made changes to their positions in COIN. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $50,000. Finally, Bogart Wealth LLC grew its holdings in Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COIN shares. HC Wainwright reissued a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Mizuho lowered their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Stock Performance

NASDAQ COIN opened at $160.55 on Friday. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The firm has a 50-day moving average price of $226.99 and a two-hundred day moving average price of $242.05. The company has a market capitalization of $40.76 billion, a P/E ratio of 16.90 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. This represents a 68.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,609 shares of company stock worth $52,238,258. Company insiders own 23.43% of the company’s stock.

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.