Vestmark Advisory Solutions Inc. Raises Position in Coinbase Global, Inc. (NASDAQ:COIN)

Vestmark Advisory Solutions Inc. increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 47.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 64,811 shares of the cryptocurrency exchange’s stock after purchasing an additional 20,805 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Coinbase Global were worth $16,376,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in COIN. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the third quarter worth $409,919,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Coinbase Global by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after buying an additional 15,954 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 in the last 90 days. 23.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on COIN. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. The Goldman Sachs Group dropped their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Piper Sandler lifted their target price 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. Finally, Canaccord Genuity Group upped their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Coinbase Global Trading Up 4.7 %

Shares of Coinbase Global stock opened at $222.45 on Thursday. The company has a 50-day moving average of $264.38 and a two-hundred day moving average of $241.24. The stock has a market cap of $56.48 billion, a PE ratio of 23.42 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. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 return on equity of 20.64% and a net margin of 39.34%. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 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.