Collar Capital Management LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Collar Capital Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,904 shares of the cryptocurrency exchange’s stock, valued at approximately $3,701,000. Coinbase Global accounts for about 3.1% of Collar Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding.

Several other institutional investors have also modified their holdings of the business. CoreCap Advisors LLC raised its holdings in shares of Coinbase Global by 4.3% during the fourth quarter. CoreCap Advisors LLC now owns 3,066 shares of the cryptocurrency exchange’s stock worth $761,000 after acquiring an additional 127 shares during the period. Brevan Howard Capital Management LP boosted its position in shares of Coinbase Global by 55.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 95,274 shares of the cryptocurrency exchange’s stock worth $23,657,000 after buying an additional 33,848 shares during the period. Brooklands Fund Management Ltd bought a new position in shares of Coinbase Global during the fourth quarter worth about $37,245,000. Cantor Fitzgerald L. P. raised its position in Coinbase Global by 66.1% in the 4th quarter. Cantor Fitzgerald L. P. now owns 3,988 shares of the cryptocurrency exchange’s stock valued at $990,000 after buying an additional 1,587 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Coinbase Global by 3.0% in the 4th quarter. Captrust Financial Advisors now owns 4,323 shares of the cryptocurrency exchange’s stock valued at $1,073,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on COIN shares. Bank of America reduced their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Piper Sandler increased their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Barclays lowered their target price on Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Cantor Fitzgerald began coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus price target of $285.95.

Coinbase Global Stock Performance

COIN opened at $197.32 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business has a fifty day simple moving average of $188.01 and a 200 day simple moving average of $243.21. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a market capitalization of $50.09 billion, a PE ratio of 20.77 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last announced 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%. Research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. The trade was a 96.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,742 shares of company stock worth $27,626,259 in the last quarter. Corporate 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.