2,576 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Alpine Global Management LLC

Alpine Global Management LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, HoldingsChannel reports. The fund purchased 2,576 shares of the cryptocurrency exchange’s stock, valued at approximately $640,000.

Several other hedge funds and other institutional investors also recently modified their holdings of COIN. Norges Bank bought a new position in shares of Coinbase Global in the 4th quarter worth $536,484,000. Groupama Asset Managment bought a new position in shares of Coinbase Global during the 4th quarter valued at about $372,450,000. Proficio Capital Partners LLC raised its holdings in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares in the last quarter. Wellington Management Group LLP boosted its stake in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after buying an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Coinbase Global by 614.8% during the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after acquiring an additional 295,313 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 0.0 %

Coinbase Global stock opened at $175.00 on Tuesday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The business’s fifty day moving average is $198.17 and its 200 day moving average is $242.51. The stock has a market capitalization of $44.43 billion, a PE ratio of 18.42 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. This represents a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,611 shares of company stock worth $34,376,005. Insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COIN. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Bank of America lowered their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Piper Sandler boosted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.95.

Coinbase Global Profile

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.