1,500,000 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Groupama Asset Managment

Groupama Asset Managment purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,500,000 shares of the cryptocurrency exchange’s stock, valued at approximately $372,450,000. Coinbase Global makes up approximately 2.7% of Groupama Asset Managment’s investment portfolio, making the stock its 6th biggest position. Groupama Asset Managment owned about 0.60% of Coinbase Global as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of COIN. Cerity Partners LLC grew its stake in shares of Coinbase Global by 11.0% in the 3rd quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock worth $2,513,000 after purchasing an additional 1,393 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Coinbase Global by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after buying an additional 186 shares during the last quarter. D.A. Davidson & CO. grew its position in Coinbase Global by 1.6% in the third quarter. D.A. Davidson & CO. now owns 5,894 shares of the cryptocurrency exchange’s stock worth $1,050,000 after buying an additional 90 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Coinbase Global by 97.1% in the third quarter. Townsquare Capital LLC now owns 4,738 shares of the cryptocurrency exchange’s stock valued at $844,000 after buying an additional 2,334 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Coinbase Global by 2.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 25,678 shares of the cryptocurrency exchange’s stock valued at $4,575,000 after acquiring an additional 500 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,226.90. This represents a 95.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock valued at $61,331,908 over the last three months. 23.43% of the stock is currently owned by insiders.

Coinbase Global Stock Down 1.0 %

Shares of Coinbase Global stock opened at $172.23 on Tuesday. The stock has a 50-day simple moving average of $236.90 and a 200-day simple moving average of $242.89. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The firm has a market cap of $43.73 billion, a price-to-earnings ratio of 18.13 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.