161,194 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 161,194 shares of the cryptocurrency exchange’s stock, valued at approximately $28,035,000. Coinbase Global comprises about 1.4% of Vestmark Advisory Solutions Inc.’s investment portfolio, making the stock its 12th largest position. Vestmark Advisory Solutions Inc. owned 0.07% of Coinbase Global as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of COIN. a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global during the 4th quarter worth about $147,646,000. Morgan Stanley grew its stake in Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after acquiring an additional 511,397 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Coinbase Global by 142.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after acquiring an additional 430,546 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Coinbase Global during the 4th quarter valued at about $34,422,000. Finally, Vanguard Group Inc. grew its stake in Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after acquiring an additional 176,525 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the sale, the director now directly owns 4,833 shares in the company, valued at approximately $1,256,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 420,597 shares of company stock worth $86,053,862. 33.16% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Down 2.4 %

Coinbase Global stock traded down $5.60 during mid-day trading on Friday, reaching $223.25. 13,739,132 shares of the company’s stock were exchanged, compared to its average volume of 9,158,455. The company has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $236.37 and a 200-day moving average of $165.79.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the business earned ($2.46) EPS. Sell-side analysts expect that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Piper Sandler increased their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, Mizuho increased their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $185.48.

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.