Vanguard Group Inc. Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Vanguard Group Inc. increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 18,419,097 shares of the cryptocurrency exchange’s stock after buying an additional 128,802 shares during the quarter. Vanguard Group Inc. owned approximately 0.07% of Coinbase Global worth $4,573,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after purchasing an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in Coinbase Global during the fourth quarter valued at about $252,000. Virtu Financial LLC purchased a new position in shares of Coinbase Global in the third quarter valued at about $3,866,000. Blueshift Asset Management LLC boosted its stake in shares of Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock worth $3,359,000 after acquiring an additional 16,998 shares during the period. Finally, Savant Capital LLC purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $591,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $203.04 on Tuesday. The stock 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 52-week low of $146.12 and a 52-week high of $349.75. 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 firm has a market capitalization of $51.55 billion, a P/E ratio of 21.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) 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%. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho lowered their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods increased their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. Finally, Piper Sandler increased 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 research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,034 shares of company stock worth $57,835,408 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Company 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.