Coinbase Global, Inc. (NASDAQ:COIN) Position Boosted by Fullerton Fund Management Co Ltd.

Fullerton Fund Management Co Ltd. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 7,440.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,608 shares of the cryptocurrency exchange’s stock after purchasing an additional 94,340 shares during the quarter. Fullerton Fund Management Co Ltd.’s holdings in Coinbase Global were worth $23,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after buying an additional 128,802 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after acquiring an additional 127,075 shares in the last quarter. Norges Bank acquired a new position in Coinbase Global in the 4th quarter worth approximately $536,484,000. Groupama Asset Managment purchased a new position in Coinbase Global during the 4th quarter worth approximately $372,450,000. Finally, Northern Trust Corp raised its stake in Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock valued at $321,488,000 after purchasing an additional 218,400 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COIN shares. JMP Securities reiterated a “market outperform” rating and set a $400.00 price target on shares of Coinbase Global in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price target for the company. Oppenheimer dropped their price objective on shares of Coinbase Global from $279.00 to $269.00 and set an “outperform” rating on the stock in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Finally, Bank of America dropped their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $268.65.

Coinbase Global Stock Down 3.4 %

Coinbase Global stock opened at $199.47 on Friday. The firm has a market cap of $50.64 billion, a price-to-earnings ratio of 21.00 and a beta of 3.62. The firm has a fifty day moving average price of $187.38 and a two-hundred day moving average price of $242.76. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. 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 earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.53 EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $144,786.76. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,742 shares of company stock worth $32,639,759. Insiders own 23.43% of the company’s stock.

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.