Brevan Howard Capital Management LP Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Brevan Howard Capital Management LP lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 55.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,274 shares of the cryptocurrency exchange's stock after buying an additional 33,848 shares during the quarter. Coinbase Global makes up about 0.2% of Brevan Howard Capital Management LP's holdings, making the stock its 18th biggest holding. Brevan Howard Capital Management LP's holdings in Coinbase Global were worth $23,657,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COIN. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Coinbase Global during the fourth quarter valued at approximately $50,000. Finally, BNP Paribas purchased a new position in shares of Coinbase Global in the 4th quarter worth $50,000. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on COIN shares. Compass Point reiterated a "sell" rating and set a $180.00 price objective on shares of Coinbase Global in a research report on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday. Barclays reaffirmed an "equal weight" rating on shares of Coinbase Global in a report on Thursday. The Goldman Sachs Group began coverage on Coinbase Global in a research report on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price target for the company. Finally, Bank of America lowered their price objective on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and a consensus price target of $268.65.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $200.54, for a total value of $5,013,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $105,484.04. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the transaction, the chief financial officer now owns 107,291 shares in the company, valued at $21,458,200. The trade was a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,742 shares of company stock worth $32,639,759. Insiders own 23.43% of the company's stock.

Coinbase Global Trading Down 3.4 %

COIN stock traded down $7.03 during mid-day trading on Friday, reaching $199.47. 16,352,397 shares of the stock traded hands, compared to its average volume of 9,628,542. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The stock has a market capitalization of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. 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 business has a 50-day moving average price of $187.65 and a two-hundred day moving average price of $242.84.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the company earned $2.53 earnings per share. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS 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.