16,616 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Truist Financial Corp

Truist Financial Corp acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,616 shares of the cryptocurrency exchange’s stock, valued at approximately $2,890,000.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Kovack Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter valued at approximately $434,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Coinbase Global by 1.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 98,975 shares of the cryptocurrency exchange’s stock worth $17,214,000 after purchasing an additional 1,870 shares during the period. Stevens Capital Management LP grew its position in Coinbase Global by 185.5% in the 4th quarter. Stevens Capital Management LP now owns 9,532 shares of the cryptocurrency exchange’s stock valued at $1,658,000 after buying an additional 6,193 shares during the last quarter. Syon Capital LLC acquired a new position in Coinbase Global in the 4th quarter valued at $289,000. Finally, Atria Wealth Solutions Inc. raised its position in Coinbase Global by 32.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,376 shares of the cryptocurrency exchange’s stock worth $1,283,000 after buying an additional 1,806 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the transaction, the chief operating officer now owns 213,851 shares in the company, valued at $45,977,965. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,542 shares of company stock worth $81,392,237. 33.16% of the stock is owned by insiders.

Coinbase Global Stock Performance

Coinbase Global stock opened at $214.34 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The stock has a fifty day moving average of $237.03 and a two-hundred day moving average of $168.14. The company has a market capitalization of $51.93 billion, a price-to-earnings ratio of 42.78 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.46) EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COIN. HC Wainwright boosted their price target on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Citigroup raised their price target on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Mizuho increased their price objective on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Finally, Sanford C. Bernstein boosted their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $193.85.

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.