Toronto Dominion Bank increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN – Get Rating) by 25.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,627 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,573 shares during the period. Toronto Dominion Bank’s holdings in Coinbase Global were worth $2,397,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in COIN. Center for Financial Planning Inc. increased its stake in Coinbase Global by 40.2% in the 4th quarter. Center for Financial Planning Inc. now owns 178 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 51 shares during the last quarter. Blue Square Asset Management LLC increased its stake in Coinbase Global by 1.1% in the 4th quarter. Blue Square Asset Management LLC now owns 4,701 shares of the cryptocurrency exchange’s stock valued at $1,186,000 after buying an additional 51 shares during the last quarter. ProShare Advisors LLC increased its stake in Coinbase Global by 2.7% in the 4th quarter. ProShare Advisors LLC now owns 2,535 shares of the cryptocurrency exchange’s stock valued at $640,000 after buying an additional 67 shares during the last quarter. Hilltop Holdings Inc. increased its stake in Coinbase Global by 2.8% in the 4th quarter. Hilltop Holdings Inc. now owns 2,540 shares of the cryptocurrency exchange’s stock valued at $641,000 after buying an additional 70 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC increased its stake in Coinbase Global by 6.4% in the 1st quarter. Epic Trust Investment Advisors LLC now owns 1,250 shares of the cryptocurrency exchange’s stock valued at $237,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 39.01% of the company’s stock.
Coinbase Global Stock Down 1.7 %
COIN opened at $90.39 on Wednesday. Coinbase Global, Inc. has a 12 month low of $40.83 and a 12 month high of $368.90. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $64.16 and a 200 day moving average of $117.61.
Analyst Upgrades and Downgrades
Several research firms have commented on COIN. Keefe, Bruyette & Woods lowered shares of Coinbase Global from a “market perform” rating to an “underperform” rating and set a $45.00 price objective for the company. in a research note on Wednesday, August 10th. Citigroup decreased their price objective on shares of Coinbase Global from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Coinbase Global from $61.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. Mizuho reduced their target price on shares of Coinbase Global from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Finally, Piper Sandler reduced their target price on shares of Coinbase Global from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $167.19.
Insiders Place Their Bets
In other news, Director Tobias Lutke bought 3,930 shares of the stock in a transaction on Thursday, August 11th. The shares were acquired at an average cost of $97.24 per share, for a total transaction of $382,153.20. Following the purchase, the director now directly owns 29,430 shares of the company’s stock, valued at approximately $2,861,773.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 1,090 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $67.26, for a total value of $73,313.40. Following the sale, the insider now directly owns 43,220 shares in the company, valued at approximately $2,906,977.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tobias Lutke acquired 3,930 shares of the stock in a transaction dated Thursday, August 11th. The shares were bought at an average price of $97.24 per share, for a total transaction of $382,153.20. Following the transaction, the director now owns 29,430 shares in the company, valued at approximately $2,861,773.20. The disclosure for this purchase can be found here. Corporate insiders own 36.10% of the company’s stock.
About Coinbase Global
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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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