National Pension Service Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

National Pension Service raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,936 shares of the cryptocurrency exchange’s stock after buying an additional 4,290 shares during the period. National Pension Service’s holdings in Coinbase Global were worth $67,025,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global in the third quarter worth $409,919,000. Geode Capital Management LLC increased its stake in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Azora Capital LP increased its stake in shares of Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after purchasing an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Coinbase Global in the third quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global in the third quarter worth $29,756,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 2.2 %

Shares of COIN opened at $208.37 on Friday. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company has a market cap of $52.90 billion, a P/E ratio of 21.93 and a beta of 3.61. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $269.37 and its 200-day simple moving average is $240.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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%. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COIN. Barclays increased their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Bank of America lowered their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday. 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. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $311.56.

Insider Buying and Selling

In related news, 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 value of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 237,069 shares of company stock valued at $66,488,684 in the last 90 days. Company 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.