AlTi Global Inc. Purchases 12,088 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

AlTi Global Inc. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 203.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,043 shares of the cryptocurrency exchange's stock after purchasing an additional 12,088 shares during the quarter. AlTi Global Inc.'s holdings in Coinbase Global were worth $4,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Coinbase Global during the 3rd quarter worth $94,000. Principal Financial Group Inc. grew its stake in Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after buying an additional 36,843 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock worth $74,000 after acquiring an additional 154 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Coinbase Global by 25.9% in the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock worth $258,000 after acquiring an additional 214 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in Coinbase Global during the 4th quarter worth about $1,207,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on COIN. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Mizuho reduced their target price on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Sanford C. Bernstein raised Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Citigroup dropped their target price on shares of Coinbase Global from $350.00 to $270.00 and set a "buy" rating for the company in a research report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $285.95.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $3,074,056.70. The trade was a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $198.44, for a total value of $3,968,800.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,379.44. This represents a 97.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,742 shares of company stock worth $27,626,259. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Performance

NASDAQ COIN traded down $2.08 during trading hours on Tuesday, hitting $197.32. 4,607,087 shares of the company's stock traded hands, compared to its average volume of 9,575,774. 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 52 week low of $142.58 and a 52 week high of $349.75. The firm has a market capitalization of $50.09 billion, a P/E ratio of 20.77 and a beta of 3.62. The business's fifty day moving average price is $188.23 and its two-hundred day moving average price is $243.53.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current 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.