Harvest Fund Management Co. Ltd Purchases 749 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Harvest Fund Management Co. Ltd lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1,413.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 802 shares of the cryptocurrency exchange’s stock after buying an additional 749 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Coinbase Global were worth $139,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 1.3% during the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after buying an additional 176,525 shares during the last quarter. Morgan Stanley boosted its position in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the last quarter. Northern Trust Corp boosted its position in shares of Coinbase Global by 4.3% during the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock valued at $67,359,000 after buying an additional 37,019 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Coinbase Global by 142.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Coinbase Global by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 618,842 shares of the cryptocurrency exchange’s stock worth $46,463,000 after purchasing an additional 20,296 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 3.9 %

COIN stock opened at $215.71 on Thursday. The business has a fifty day moving average price of $229.46 and a 200-day moving average price of $159.37. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $52.26 billion, a P/E ratio of 831.00 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the company posted ($2.46) earnings per share. Coinbase Global’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on COIN shares. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Barclays boosted their price objective on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. JMP Securities reiterated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Oppenheimer upped their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, 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 note on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $165.43.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the completion of the transaction, the chief operating officer now directly owns 233,142 shares of the company’s stock, valued at approximately $30,147,592.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 515,828 shares of company stock valued at $95,846,182. Company insiders own 33.16% 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.