Truist Financial Corp Acquires 1,040 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Truist Financial Corp increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,577 shares of the cryptocurrency exchange’s stock after buying an additional 1,040 shares during the quarter. Truist Financial Corp’s holdings in Coinbase Global were worth $1,633,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global during the third quarter worth approximately $409,919,000. Geode Capital Management LLC raised its stake in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Azora Capital LP lifted its stake 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 purchasing an additional 220,078 shares during the last quarter. Holocene Advisors LP bought a new stake in Coinbase Global during the 3rd quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $29,756,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Down 2.2 %

NASDAQ:COIN opened at $208.37 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a market cap of $52.90 billion, a PE ratio of 21.93 and a beta of 3.61. The firm has a 50-day moving average of $269.37 and a 200-day moving average of $240.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JMP Securities raised their target price on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $311.56.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $305.71, for a total value of $3,057,100.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $21,218,413.97. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,386,983.38. This represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 237,069 shares of company stock valued at $66,488,684. 23.43% of the stock is owned by insiders.

About Coinbase Global

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.