Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 39.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,218 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,324 shares during the period. D.A. Davidson & CO.’s holdings in Coinbase Global were worth $2,041,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the third quarter worth about $409,919,000. Geode Capital Management LLC grew its position in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the last quarter. Azora Capital LP grew its position in shares of Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after acquiring an additional 220,078 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Coinbase Global during the third quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Coinbase Global during the third quarter worth about $29,756,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $235.38 on Friday. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve 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 company has a 50-day moving average of $275.76 and a 200-day moving average of $239.79. The firm has a market cap of $58.93 billion, a price-to-earnings ratio of 24.78 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 analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho lowered their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Monness Crespi & Hardt increased their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays increased their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, Oppenheimer decreased their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and ten have given 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 $304.50.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 26,649 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,209,894.38. This represents a 71.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at $24,441,474.60. This represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 334,306 shares of company stock valued at $97,300,651. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Company 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.