Bank of Nova Scotia Buys 1,024 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Bank of Nova Scotia increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,090 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,024 shares during the period. Bank of Nova Scotia’s holdings in Coinbase Global were worth $2,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new position in Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in 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 purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global during the fourth quarter worth $50,000. Finally, Bogart Wealth LLC increased its holdings in Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,767 shares of company stock worth $48,326,134 over the last quarter. Insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COIN. Cantor Fitzgerald assumed coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a report on Tuesday, February 18th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.74.

Coinbase Global Stock Performance

NASDAQ COIN opened at $175.50 on Friday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The company has a market cap of $44.56 billion, a P/E ratio of 18.47 and a beta of 3.65. The company has a fifty day simple moving average of $210.02 and a 200 day simple moving average of $241.96. 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 issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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 predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.