Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by United Capital Management of KS Inc.

United Capital Management of KS Inc. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,849 shares of the cryptocurrency exchange’s stock after acquiring an additional 853 shares during the period. United Capital Management of KS Inc.’s holdings in Coinbase Global were worth $2,942,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after purchasing an additional 36,843 shares in the last quarter. Assetmark Inc. raised its position in Coinbase Global by 76.6% in the 3rd quarter. Assetmark Inc. now owns 2,879 shares of the cryptocurrency exchange’s stock valued at $513,000 after purchasing an additional 1,249 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Coinbase Global by 12.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock valued at $276,000 after purchasing an additional 173 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Coinbase Global by 8.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock valued at $265,000 after purchasing an additional 110 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Coinbase Global in the 3rd quarter valued at about $567,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COIN. Barclays increased their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler raised their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. JMP Securities raised their target price on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Mizuho cut their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $307.89.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Up 3.2 %

Shares of COIN stock opened at $183.12 on Friday. The business’s 50 day moving average is $255.08 and its two-hundred day moving average is $240.49. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company has a market capitalization of $46.49 billion, a P/E ratio of 19.28 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 (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.