Fullerton Fund Management Co Ltd. Acquires 94,340 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Fullerton Fund Management Co Ltd. lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 7,440.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 95,608 shares of the cryptocurrency exchange's stock after acquiring an additional 94,340 shares during the period. Fullerton Fund Management Co Ltd.'s holdings in Coinbase Global were worth $23,739,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Elyxium Wealth LLC acquired a new stake in Coinbase Global in the 4th quarter valued at about $497,000. Ensign Peak Advisors Inc lifted its position in Coinbase Global by 31.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 39,215 shares of the cryptocurrency exchange's stock valued at $9,737,000 after purchasing an additional 9,351 shares during the period. FORA Capital LLC boosted its position in shares of Coinbase Global by 171.1% in the 4th quarter. FORA Capital LLC now owns 21,727 shares of the cryptocurrency exchange's stock worth $5,395,000 after purchasing an additional 13,713 shares during the last quarter. Fred Alger Management LLC raised its stake in Coinbase Global by 459.8% during the 4th quarter. Fred Alger Management LLC now owns 87,176 shares of the cryptocurrency exchange's stock worth $21,646,000 after buying an additional 71,602 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its holdings in Coinbase Global by 43.1% during the fourth quarter. Frontier Capital Management Co. LLC now owns 218,271 shares of the cryptocurrency exchange's stock worth $54,197,000 after acquiring an additional 65,725 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Up 24.0%

NASDAQ COIN traded up $49.68 during mid-day trading on Tuesday, hitting $256.90. The company's stock had a trading volume of 38,976,039 shares, compared to its average volume of 9,804,938. 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 twelve month low of $142.58 and a twelve month high of $349.75. The firm has a market capitalization of $65.22 billion, a price-to-earnings ratio of 27.04 and a beta of 3.62. The company's 50 day simple moving average is $187.08 and its 200 day simple moving average is $243.32.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) 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 the consensus estimate of $2.22 billion. During the same period in the previous year, the company posted $2.53 earnings per share. The company's revenue for the quarter was up 24.2% on a year-over-year basis. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on COIN shares. JMP Securities reiterated a "market outperform" rating and set a $400.00 price objective on shares of Coinbase Global in a report on Thursday, May 8th. Oppenheimer decreased their price objective on Coinbase Global from $279.00 to $269.00 and set an "outperform" rating for the company in a report on Friday. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday. Monness Crespi & Hardt upgraded Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Tuesday. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of "Moderate Buy" and an average price target of $262.75.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,742 shares of company stock worth $25,758,259 over the last ninety days. 17.65% of the stock is currently owned by company insiders.

About Coinbase Global

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.