Cwm LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,516 shares of the cryptocurrency exchange’s stock after acquiring an additional 451 shares during the period. Cwm LLC’s holdings in Coinbase Global were worth $160,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of COIN. Vanguard Group Inc. lifted its position in Coinbase Global by 19.8% during the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after acquiring an additional 2,110,196 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Coinbase Global by 32.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,310,461 shares of the cryptocurrency exchange’s stock worth $258,717,000 after acquiring an additional 1,775,711 shares during the last quarter. ARK Investment Management LLC lifted its position in Coinbase Global by 19.0% during the fourth quarter. ARK Investment Management LLC now owns 9,189,273 shares of the cryptocurrency exchange’s stock worth $325,208,000 after acquiring an additional 1,469,638 shares during the last quarter. First Trust Advisors LP lifted its position in Coinbase Global by 329.7% during the third quarter. First Trust Advisors LP now owns 583,952 shares of the cryptocurrency exchange’s stock worth $37,659,000 after acquiring an additional 448,055 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Coinbase Global by 320.1% during the second quarter. Northern Trust Corp now owns 563,011 shares of the cryptocurrency exchange’s stock worth $26,472,000 after acquiring an additional 428,994 shares during the last quarter. 46.41% of the stock is currently owned by institutional investors and hedge funds.
Coinbase Global Stock Down 3.0 %
Shares of NASDAQ:COIN opened at $53.89 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Coinbase Global, Inc. has a 52-week low of $31.55 and a 52-week high of $132.81. The company has a market capitalization of $12.47 billion, a PE ratio of -4.55 and a beta of 2.62. The company has a fifty day moving average of $64.28 and a 200-day moving average of $56.26.
Coinbase Global (NASDAQ:COIN – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The cryptocurrency exchange reported ($2.46) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.07). Coinbase Global had a negative return on equity of 44.89% and a negative net margin of 82.18%. The business had revenue of $629.10 million during the quarter, compared to the consensus estimate of $587.37 million. During the same period in the prior year, the firm earned $3.32 EPS. The business’s revenue for the quarter was down 74.7% compared to the same quarter last year. On average, equities analysts predict that Coinbase Global, Inc. will post -4.06 EPS for the current fiscal year.
Analyst Ratings Changes
COIN has been the topic of several recent research reports. Jefferies Financial Group raised their target price on shares of Coinbase Global from $35.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 22nd. Mizuho reaffirmed an “underperform” rating and set a $30.00 target price on shares of Coinbase Global in a report on Thursday, April 13th. Piper Sandler raised their target price on shares of Coinbase Global from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of Coinbase Global in a report on Monday, March 13th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $37.00 to $32.00 and set an “underperform” rating on the stock in a report on Thursday, January 12th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $69.12.
Insider Buying and Selling
In related news, insider Paul Grewal sold 1,485 shares of the business’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $77.00, for a total value of $114,345.00. Following the sale, the insider now owns 63,250 shares of the company’s stock, valued at $4,870,250. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coinbase Global news, CEO Brian Armstrong sold 1,706 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $75.31, for a total transaction of $128,478.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 1,485 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $77.00, for a total transaction of $114,345.00. Following the sale, the insider now directly owns 63,250 shares in the company, valued at approximately $4,870,250. The disclosure for this sale can be found here. Insiders have sold a total of 186,362 shares of company stock valued at $12,106,149 over the last 90 days. 36.10% of the stock is owned by insiders.
Coinbase Global Profile
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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