Principal Securities Inc. Has $256,000 Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Principal Securities Inc. increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 35.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,032 shares of the cryptocurrency exchange’s stock after buying an additional 269 shares during the quarter. Principal Securities Inc.’s holdings in Coinbase Global were worth $256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $25,000. Bogart Wealth LLC lifted its stake in Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its holdings in Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after purchasing an additional 100 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Down 8.3 %

Shares of COIN stock opened at $235.38 on Monday. The stock has a market cap of $59.76 billion, a P/E ratio of 24.78 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $275.76 and a 200 day simple moving average of $240.54.

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

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,074,056.70. The trade was a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total value of $447,465.00. Following the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at $52,972,696.56. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 227,591 shares of company stock worth $64,609,581 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. HC Wainwright reiterated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday. Finally, Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $306.17.

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.