Public Employees Retirement Association of Colorado Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Public Employees Retirement Association of Colorado acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,145 shares of the cryptocurrency exchange’s stock, valued at approximately $1,803,000.

Other institutional investors have also recently made changes to their positions in the company. West Branch Capital LLC purchased a new position in Coinbase Global during the 4th quarter worth $25,000. Gradient Investments LLC raised its position in Coinbase Global by 222.9% during the 4th quarter. Gradient Investments LLC now owns 113 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 78 shares during the last quarter. Trustcore Financial Services LLC raised its position in Coinbase Global by 504.8% during the 4th quarter. Trustcore Financial Services LLC now owns 127 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 106 shares during the last quarter. Center for Financial Planning Inc. raised its position in Coinbase Global by 182.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 127 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 82 shares during the last quarter. Finally, Sandy Cove Advisors LLC purchased a new position in Coinbase Global during the 4th quarter worth $34,000. Institutional investors own 39.01% of the company’s stock.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Coinbase Global from $345.00 to $296.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $200.00 and set a “neutral” rating for the company in a report on Monday, February 28th. Zacks Investment Research upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Oppenheimer cut their price target on shares of Coinbase Global from $377.00 to $314.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Finally, DA Davidson cut their price target on shares of Coinbase Global from $225.00 to $160.00 in a report on Tuesday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Buy” and an average target price of $250.89.

In other Coinbase Global news, insider Paul Grewal sold 1,207 shares of the firm’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $173.87, for a total transaction of $209,861.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III acquired 385,260 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were bought at an average price of $64.93 per share, for a total transaction of $25,014,931.80. Following the completion of the acquisition, the director now owns 1,091,814 shares in the company, valued at $70,891,483.02. The disclosure for this purchase can be found here.

Coinbase Global stock opened at $66.15 on Friday. Coinbase Global, Inc. has a 12-month low of $40.83 and a 12-month high of $368.90. The stock has a market capitalization of $14.52 billion and a P/E ratio of 7.05. The firm’s 50-day moving average is $139.73 and its two-hundred day moving average is $205.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.55.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($2.72). Coinbase Global had a return on equity of 42.39% and a net margin of 33.63%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $3.05 earnings per share. Coinbase Global’s revenue for the quarter was down 35.2% on a year-over-year basis. As a group, analysts forecast that Coinbase Global, Inc. will post -7.6 EPS for the current year.

Coinbase Global Company Profile (Get Rating)

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.

See Also

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

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