Armstrong Fleming & Moore Inc Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Armstrong Fleming & Moore Inc purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 938 shares of the cryptocurrency exchange’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Banco Santander S.A. raised its position in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global in the 3rd quarter worth about $29,756,000. Lindbrook Capital LLC grew its holdings in shares of Coinbase Global by 30.2% during 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 period. Wellington Management Group LLP increased its position in 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 in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Coinbase Global by 237.5% in 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 period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Bank of America reduced their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Finally, JMP Securities boosted their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Coinbase Global Trading Down 6.2 %

NASDAQ:COIN opened at $213.09 on Wednesday. The company has a market cap of $54.10 billion, a PE ratio of 22.43 and a beta of 3.61. The business’s 50 day moving average is $272.02 and its two-hundred day moving average is $240.90. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. 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 quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,074,056.70. This trade represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,091 shares of company stock worth $64,162,116. 23.43% of the stock is currently owned by insiders.

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.