Principal Securities Inc. Purchases 269 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Principal Securities Inc. boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 35.3% during the fourth quarter, according to 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 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Clear Street Derivatives LLC bought a new stake in Coinbase Global during the third quarter valued at about $409,919,000. Geode Capital Management LLC boosted its stake in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Azora Capital LP grew its holdings in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after buying an additional 220,078 shares during the last quarter. Holocene Advisors LP bought a new position in Coinbase Global in the 3rd quarter worth approximately $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global in the 3rd quarter worth approximately $29,756,000. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’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 value of $2,246,891.40. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This represents 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 accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. This represents a 3.80 % 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 in the last three months. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on COIN. Mizuho reduced their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods raised their price target 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. JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. HC Wainwright reiterated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday. Finally, Canaccord Genuity Group boosted their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $306.17.

Coinbase Global Stock Down 8.3 %

Shares of NASDAQ COIN opened at $235.38 on Monday. 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 firm has a market capitalization of $59.76 billion, a PE ratio of 24.78 and a beta of 3.61. The firm’s 50-day moving average is $275.76 and its 200-day moving average is $240.54. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

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

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.