Signaturefd LLC Raises Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Signaturefd LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,526 shares of the cryptocurrency exchange’s stock after buying an additional 512 shares during the quarter. Signaturefd LLC’s holdings in Coinbase Global were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banco Santander S.A. raised its stake in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Coinbase Global by 168.2% during the third 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 last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global during the fourth quarter worth approximately $252,000. Virtu Financial LLC purchased a new stake in shares of Coinbase Global during the third quarter worth approximately $3,866,000. Finally, Blueshift Asset Management LLC raised its stake in shares of Coinbase Global by 916.8% during the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock worth $3,359,000 after purchasing an additional 16,998 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 in the last three months. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Up 4.8 %

COIN opened at $189.75 on Thursday. The business’s fifty day simple moving average is $250.03 and its 200 day simple moving average is $240.77. 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 $48.17 billion, a P/E ratio of 19.97 and a beta of 3.66. 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 (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COIN. JMP Securities upped their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Canaccord Genuity Group upped their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Barclays upped their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $322.78.

About Coinbase Global

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.