Mediolanum International Funds Ltd Purchases New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Mediolanum International Funds Ltd acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,904 shares of the cryptocurrency exchange’s stock, valued at approximately $2,525,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Coinbase Global during the 3rd quarter valued at $55,000. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on COIN shares. HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Monness Crespi & Hardt upped their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer decreased their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Finally, B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $289.06.

Coinbase Global Stock Down 3.3 %

Coinbase Global stock opened at $291.33 on Friday. The firm has a market capitalization of $72.93 billion, a price-to-earnings ratio of 49.72 and a beta of 3.59. The company’s 50 day simple moving average is $288.00 and its 200 day simple moving average is $235.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period last year, the firm earned ($0.01) EPS. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,168,390.24. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,205 shares of company stock valued at $112,487,737. Company 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.