Coinbase Global, Inc. (NASDAQ:COIN) Position Increased by Stevens Capital Management LP

Stevens Capital Management LP grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 185.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,532 shares of the cryptocurrency exchange’s stock after acquiring an additional 6,193 shares during the quarter. Stevens Capital Management LP’s holdings in Coinbase Global were worth $1,658,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in COIN. Morgan Stanley grew its stake in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Coinbase Global by 142.3% in 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 purchasing an additional 430,546 shares during the period. International Assets Investment Management LLC purchased a new position in Coinbase Global in the 4th quarter worth about $34,422,000. Vanguard Group Inc. raised its holdings 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 worth $1,041,602,000 after buying an additional 176,525 shares during the period. Finally, Barclays PLC lifted its position in shares of Coinbase Global by 41.5% in the 3rd quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after acquiring an additional 118,670 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COIN. Mizuho increased their price objective on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. JMP Securities reiterated a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.43.

Insiders Place Their Bets

In related news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 700 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the transaction, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The disclosure for this sale can be found here. In the last three months, insiders sold 532,208 shares of company stock valued at $99,652,403. 33.16% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded up $12.71 during mid-day trading on Friday, hitting $236.32. 6,017,585 shares of the stock were exchanged, compared to its average volume of 13,476,026. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48. The stock’s fifty day simple moving average is $230.62 and its two-hundred day simple moving average is $159.82. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $57.25 billion, a P/E ratio of 828.19 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.46) EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

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.