Vanguard Group Inc. Increases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Vanguard Group Inc. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,419,097 shares of the cryptocurrency exchange’s stock after acquiring an additional 128,802 shares during the quarter. Vanguard Group Inc. owned approximately 7.36% of Coinbase Global worth $4,573,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COIN. Blueprint Investment Partners LLC purchased a new position in shares of Coinbase Global in the 4th quarter valued at approximately $516,000. KLP Kapitalforvaltning AS bought a new position in Coinbase Global in the fourth quarter worth $16,164,000. Sei Investments Co. lifted its position in Coinbase Global by 44.9% during the fourth quarter. Sei Investments Co. now owns 20,938 shares of the cryptocurrency exchange’s stock valued at $5,200,000 after buying an additional 6,488 shares during the period. Plancorp LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at $236,000. Finally, HUB Investment Partners LLC purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $584,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 6.9 %

COIN opened at $203.04 on Tuesday. The stock has a market capitalization of $51.55 billion, a price-to-earnings ratio of 21.37 and a beta of 3.66. The firm has a 50 day moving average price of $246.30 and a 200-day moving average price of $241.82. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price target for the company. Piper Sandler boosted their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. Canaccord Genuity Group lifted their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, HC Wainwright restated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.72.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction dated 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 owns 10,417 shares of the company’s stock, valued at $3,230,728.38. This represents a 49.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,034 shares of company stock valued at $57,835,408. 23.43% of the stock is owned by company 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.