2,249 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Optimize Financial Inc

Optimize Financial Inc purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,249 shares of the cryptocurrency exchange’s stock, valued at approximately $558,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after acquiring an additional 128,802 shares during the period. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after buying an additional 127,075 shares during the last quarter. Norges Bank acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $536,484,000. Groupama Asset Managment purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $372,450,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Coinbase Global by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after acquiring an additional 15,954 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,767 shares of company stock worth $48,326,134. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $175.50 on Friday. The firm has a 50-day simple moving average of $210.02 and a 200-day simple moving average of $241.96. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $44.56 billion, a price-to-earnings ratio of 18.47 and a beta of 3.65. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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 analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler boosted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $305.00 price objective on shares of Coinbase Global in a research report on Wednesday, March 26th. Finally, Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $298.74.

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.