Headlands Technologies LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,190 shares of the cryptocurrency exchange’s stock, valued at approximately $540,000.
A number of other institutional investors and hedge funds have also modified their holdings of COIN. Fairfield Bush & CO. raised its position in Coinbase Global by 18.4% during the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock worth $336,000 after acquiring an additional 275 shares in the last quarter. United Bank acquired a new stake in shares of Coinbase Global in the 1st quarter valued at approximately $286,000. Bank of New York Mellon Corp raised its holdings in Coinbase Global by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock valued at $13,394,000 after buying an additional 1,844 shares during the last quarter. American Century Companies Inc. raised its holdings in Coinbase Global by 269.2% in the 1st quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock valued at $1,357,000 after buying an additional 5,211 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in Coinbase Global by 26.6% during the 1st quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after purchasing an additional 232 shares during the last quarter. 45.96% of the stock is owned by institutional investors.
Coinbase Global Stock Performance
Shares of COIN stock opened at $141.99 on Friday. The company has a market capitalization of $33.97 billion, a price-to-earnings ratio of -43.96 and a beta of 3.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50-day simple moving average of $144.40 and a 200 day simple moving average of $105.74. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $187.39.
Insider Buying and Selling at Coinbase Global
In other Coinbase Global news, insider Lawrence J. Brock sold 104,767 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $175.20, for a total value of $18,355,178.40. Following the completion of the sale, the insider now owns 11,089 shares of the company’s stock, valued at approximately $1,942,792.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $558,181.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lawrence J. Brock sold 104,767 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $175.20, for a total transaction of $18,355,178.40. Following the completion of the transaction, the insider now owns 11,089 shares of the company’s stock, valued at $1,942,792.80. The disclosure for this sale can be found here. Insiders sold 1,328,077 shares of company stock valued at $184,096,220 in the last quarter. Company insiders own 33.16% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on COIN shares. The Goldman Sachs Group lifted their price objective on shares of Coinbase Global from $55.00 to $123.00 and gave the stock a “sell” rating in a report on Thursday, December 7th. Wedbush boosted their price objective on Coinbase Global from $110.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Needham & Company LLC upped their price target on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. lowered Coinbase Global from a “neutral” rating to an “underweight” rating and set a $80.00 price objective for the company. in a report on Tuesday, January 23rd. Finally, Mizuho upped their target price on Coinbase Global from $54.00 to $60.00 and gave the stock an “underperform” rating in a research note on Thursday, January 18th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $103.68.
Read Our Latest Research Report on COIN
About Coinbase Global
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN – Free Report).
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