Flputnam Investment Management Co. Buys New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Flputnam Investment Management Co. purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 12,311 shares of the cryptocurrency exchange’s stock, valued at approximately $3,057,000.

A number of other large investors also recently modified their holdings of the business. Banco Santander S.A. grew its stake in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after acquiring an additional 16,737 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global in the 3rd quarter valued at $29,756,000. Lindbrook Capital LLC grew its position in Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after purchasing an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. raised its position in shares of Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after buying an additional 23,040 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COIN shares. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler upped their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. JMP Securities lifted their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Mizuho lowered their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Ten 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 has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

Coinbase Global Trading Up 3.5 %

Shares of COIN opened at $215.73 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market cap of $54.77 billion, a price-to-earnings ratio of 22.71 and a beta of 3.61. The stock has a fifty day moving average price of $268.11 and a two-hundred day moving average price of $240.95. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 237,069 shares of company stock valued at $66,488,684. Insiders own 23.43% of the company’s stock.

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.