Connor Clark & Lunn Investment Management Ltd. Invests $56.14 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 226,106 shares of the cryptocurrency exchange’s stock, valued at approximately $56,142,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Coinbase Global as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global in the third quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in Coinbase Global in the fourth quarter worth about $50,000. Finally, Bogart Wealth LLC lifted its holdings in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 0.0 %

Coinbase Global stock opened at $191.73 on Thursday. 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 cap of $48.68 billion, a price-to-earnings ratio of 20.18 and a beta of 3.66. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm’s 50 day moving average price is $258.42 and its two-hundred day moving average price is $241.08.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.89.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,846,236.91. This trade represents a 52.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is owned by insiders.

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.