226,106 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, HoldingsChannel reports. The fund acquired 226,106 shares of the cryptocurrency exchange’s stock, valued at approximately $56,142,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global in the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 0.0 %

Coinbase Global stock opened at $191.73 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The business’s 50-day simple moving average is $258.42 and its 200-day simple moving average is $241.08. The firm has a market capitalization of $48.68 billion, a PE ratio of 20.18 and a beta of 3.66. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on COIN shares. Canaccord Genuity Group raised their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Rosenblatt Securities started coverage on shares of Coinbase Global in a research report on Friday, March 7th. They set a “buy” rating and a $305.00 target price on the stock. The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. JMP Securities raised their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Mizuho cut their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $307.89.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 over the last three months. 23.43% of the stock is owned by corporate insiders.

About Coinbase Global

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.