34,658 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by DJE Kapital AG

DJE Kapital AG purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 34,658 shares of the cryptocurrency exchange’s stock, valued at approximately $8,767,000.

A number of other institutional investors have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its stake in Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after buying an additional 40 shares during the period. Empowered Funds LLC raised its stake in Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after buying an additional 43 shares during the period. Yousif Capital Management LLC raised its stake in Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares during the period. Capital Advisors Wealth Management LLC raised its stake in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 45 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its stake in Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Mizuho decreased their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group decreased their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Canaccord Genuity Group boosted their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, 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. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 227,069 shares of company stock worth $63,431,584. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $215.73 on Monday. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. 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 simple moving average is $268.11 and its 200 day simple moving average is $241.26. The company has a market cap of $54.77 billion, a price-to-earnings ratio of 22.71 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 return on equity of 20.64% and a net margin of 39.34%. Sell-side 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.