Mutual Advisors LLC Acquires New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Mutual Advisors LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,384 shares of the cryptocurrency exchange’s stock, valued at approximately $241,000.

Several other large investors also recently bought and sold shares of COIN. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 1.3% during the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock worth $1,041,602,000 after buying an additional 176,525 shares during the period. Morgan Stanley lifted its position in Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after acquiring an additional 511,397 shares during the period. Geode Capital Management LLC grew its stake in Coinbase Global by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 2,341,989 shares of the cryptocurrency exchange’s stock valued at $158,083,000 after purchasing an additional 73,036 shares during the last quarter. Norges Bank acquired a new position in shares of Coinbase Global in the fourth quarter valued at about $50,254,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Coinbase Global in the second quarter worth about $93,815,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Marc L. Andreessen sold 33,992 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $163.91, for a total transaction of $5,571,628.72. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at approximately $764,148.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Marc L. Andreessen sold 33,992 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $163.91, for a total transaction of $5,571,628.72. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $764,148.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the transaction, the insider now directly owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 759,107 shares of company stock valued at $117,220,321. 33.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COIN has been the topic of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a research report on Thursday. JMP Securities reiterated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Piper Sandler boosted their target price on shares of Coinbase Global from $125.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Wedbush increased their price target on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group raised Coinbase Global from a “sell” rating to a “neutral” rating in a report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.30.

Get Our Latest Research Report on COIN

Coinbase Global Trading Up 3.3 %

Shares of NASDAQ:COIN opened at $265.12 on Friday. The business’s 50 day moving average price is $191.07 and its 200-day moving average price is $138.65. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a market capitalization of $64.23 billion, a price-to-earnings ratio of 981.93 and a beta of 3.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COINGet Free Report) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the prior year, the business posted ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, equities research analysts forecast that Coinbase Global, Inc. will post 1.68 earnings per share for the current fiscal year.

Coinbase Global Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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