EagleClaw Capital Managment LLC Buys Shares of 890 Coinbase Global, Inc. (NASDAQ:COIN)

EagleClaw Capital Managment LLC purchased a new position 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 institutional investor purchased 890 shares of the cryptocurrency exchange’s stock, valued at approximately $221,000.

A number of other hedge funds have also made changes to their positions in the stock. Candriam S.C.A. lifted its holdings in Coinbase Global by 20.0% in the 4th quarter. Candriam S.C.A. now owns 12,603 shares of the cryptocurrency exchange’s stock worth $3,129,000 after purchasing an additional 2,102 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of Coinbase Global by 47.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 64,811 shares of the cryptocurrency exchange’s stock valued at $16,376,000 after purchasing an additional 20,805 shares during the period. SP Asset Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter worth $255,000. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth $50,000. Finally, Arizona State Retirement System grew its stake in Coinbase Global by 1.5% in the 4th quarter. Arizona State Retirement System now owns 55,259 shares of the cryptocurrency exchange’s stock valued at $13,721,000 after buying an additional 798 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $214.17 on Friday. The stock’s fifty day simple moving average is $263.18 and its 200 day simple moving average is $241.06. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The firm has a market cap of $54.37 billion, a price-to-earnings ratio of 22.54 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last issued 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 net margin of 39.34% and a return on equity of 20.64%. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Finally, HC Wainwright restated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average target price of $311.56.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $137,322.82. This represents a 97.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 10,417 shares of the company’s stock, valued at $3,126,037.53. The trade was a 33.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is currently owned by insiders.

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.