BlueCrest Capital Management Ltd Purchases New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

BlueCrest Capital Management Ltd bought a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,300 shares of the cryptocurrency exchange's stock, valued at approximately $2,061,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $252,000. Virtu Financial LLC purchased a new stake in Coinbase Global in the 3rd quarter worth about $3,866,000. Savant Capital LLC acquired a new stake in Coinbase Global during the 4th quarter worth about $591,000. Principal Financial Group Inc. grew its stake in Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $1,207,000. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

COIN has been the topic of several research reports. Citigroup dropped their target price on Coinbase Global from $350.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday. HC Wainwright reaffirmed a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Keefe, Bruyette & Woods boosted 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. Rosenblatt Securities cut their price target on shares of Coinbase Global from $290.00 to $260.00 and set a "buy" rating on the stock in a report on Friday. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $285.95.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the sale, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. This represents a 6.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $142,540.74. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,970 shares of company stock valued at $38,672,615 over the last quarter. Corporate insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $3.63 during midday trading on Friday, reaching $204.93. The company had a trading volume of 6,104,672 shares, compared to its average volume of 9,613,867. 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 stock has a fifty day simple moving average of $188.51 and a 200 day simple moving average of $243.40. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a market capitalization of $52.03 billion, a price-to-earnings ratio of 21.57 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.