Coinbase Global's Stock Dynamics: Institutional Holdings and Analyst Ratings
Discover the latest changes in Coinbase Global's institutional holdings and analyst ratings, including insights on stock performance and insider activity.
In the dynamic world of cryptocurrency exchanges, Coinbase Global, Inc. (NASDAQ:COIN) remains a focal point for institutional investors and analysts alike. Recently, Assenagon Asset Management S.A. announced a notable reduction in its holdings of Coinbase, selling 710 shares and reducing its position by 16.3% in the first quarter. The firm's remaining 3,654 shares were valued at $629,000 at the end of the reporting period, as reported by HoldingsChannel.com.
Meanwhile, other institutional investors have been actively reshaping their portfolios. New positions in Coinbase were established during the fourth quarter by firms such as Mascagni Wealth Management Inc., Copia Wealth Management, Atala Financial Inc., Mpwm Advisory Solutions LLC, and Ameriflex Group Inc., with investments ranging from $25,000 to $37,000. Overall, hedge funds and institutional investors own a significant portion of Coinbase's stock, at 68.84%.
Coinbase's stock performance has been under scrutiny, with COIN opening at $295.29 and displaying a year-long fluctuation range between $142.58 and $349.75. The stock's market capitalization stands at $74.97 billion, with a P/E ratio of 55.30, and a beta of 3.61, indicating its volatility. The firm's financial health is reflected in its debt-to-equity ratio of 0.40, and both current and quick ratios at 2.52.
Analyst ratings for Coinbase Global reveal mixed sentiments. Recent reports highlight Jefferies Financial Group's 'hold' rating and a revised target price of $260.00, while William Blair provided an 'outperform' rating. JMP Securities set a $400.00 price objective, and Benchmark upgraded its target price to $301.00. As per MarketBeat.com, the consensus rating for the stock is 'Moderate Buy', with a target price of $271.88.
Insider trading activity has also been significant. Paul Grewal, an insider, sold 12,931 shares, reducing his stake by 13.30%, while CFO Alesia J. Haas sold 7,575 shares, marking a 6.19% decrease in ownership. Insiders collectively sold 228,538 shares worth $51,299,116 over the past three months, and they currently own 17.65% of the company.
Coinbase Global continues to provide essential financial infrastructure for the crypto economy in the U.S. and internationally, offering a primary financial account and a marketplace for crypto assets. For the latest insights on Coinbase Global and other hedge fund holdings, visit HoldingsChannel.com.