Intech Investment Management LLC Has $4.33 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Intech Investment Management LLC lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 14.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,425 shares of the cryptocurrency exchange’s stock after selling 2,977 shares during the quarter. Intech Investment Management LLC’s holdings in Coinbase Global were worth $4,327,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after buying an additional 36,843 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Coinbase Global by 8.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock worth $265,000 after buying an additional 110 shares during the last quarter. Victory Capital Management Inc. grew its stake in Coinbase Global by 6.7% during the third quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock worth $11,552,000 after buying an additional 4,076 shares during the last quarter. CIBC Asset Management Inc grew its stake in Coinbase Global by 5.6% during the third quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange’s stock worth $1,240,000 after buying an additional 367 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Coinbase Global by 0.8% during the third 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 last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of 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 target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Bank of America lowered their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Piper Sandler raised their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twelve 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 $322.78.

Insider Activity

In other news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 in the last quarter. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $181.14 on Wednesday. The company has a fifty day moving average price of $251.44 and a two-hundred day moving average price of $241.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The firm has a market capitalization of $45.99 billion, a PE ratio of 19.07 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.