Howard Capital Management Inc. Purchases 67 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Howard Capital Management Inc. lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,371 shares of the cryptocurrency exchange’s stock after acquiring an additional 67 shares during the period. Howard Capital Management Inc.’s holdings in Coinbase Global were worth $340,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COIN. Geode Capital Management LLC increased its position in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after buying an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC bought a new position in Coinbase Global during the 3rd quarter valued at approximately $409,919,000. Charles Schwab Investment Management Inc. increased its position in Coinbase Global by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after buying an additional 52,856 shares in the last quarter. Finally, Ribbit Management Company LLC increased its position in Coinbase Global by 4.7% during the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after buying an additional 17,650 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Piper Sandler raised their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $306.17.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated 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 transaction, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $305.71, for a total value of $3,057,100.00. Following the completion of the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $21,218,413.97. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,091 shares of company stock valued at $64,162,116. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

NASDAQ:COIN opened at $227.07 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business’s 50-day simple moving average is $273.99 and its two-hundred day simple moving average is $240.78. The stock has a market cap of $57.65 billion, a PE ratio of 23.90 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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 return on equity of 20.64% and a net margin of 39.34%. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.