Ensign Peak Advisors Inc Has $9.74 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Ensign Peak Advisors Inc raised its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 31.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,215 shares of the cryptocurrency exchange's stock after purchasing an additional 9,351 shares during the quarter. Ensign Peak Advisors Inc's holdings in Coinbase Global were worth $9,737,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COIN. FORA Capital LLC increased its holdings in Coinbase Global by 171.1% in the fourth quarter. FORA Capital LLC now owns 21,727 shares of the cryptocurrency exchange's stock worth $5,395,000 after buying an additional 13,713 shares during the last quarter. Fred Alger Management LLC grew its position in Coinbase Global by 459.8% in the fourth quarter. Fred Alger Management LLC now owns 87,176 shares of the cryptocurrency exchange's stock worth $21,646,000 after acquiring an additional 71,602 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in Coinbase Global by 43.1% in 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. Collar Capital Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth $3,701,000. Finally, CoreCap Advisors LLC raised its holdings in shares of Coinbase Global by 4.3% during the 4th quarter. CoreCap Advisors LLC now owns 3,066 shares of the cryptocurrency exchange's stock valued at $761,000 after purchasing an additional 127 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COIN. Canaccord Genuity Group reiterated a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Friday. Needham & Company LLC decreased their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday. 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 report on Tuesday, February 25th. Mizuho reduced their target price on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group increased their price target on Coinbase Global from $189.00 to $209.00 and gave the company a "neutral" rating in a report on Monday. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $268.75.

Coinbase Global Stock Up 4.0%

Shares of COIN opened at $207.22 on Tuesday. 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 company has a 50-day simple moving average of $187.08 and a 200-day simple moving average of $243.32. 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 $52.61 billion, a P/E ratio of 21.81 and a beta of 3.62.

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

Insider Activity

In other news, insider Paul Grewal sold 10,978 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. This trade represents a 11.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $200.54, for a total transaction of $5,013,500.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $105,484.04. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,742 shares of company stock worth $25,758,259. Company insiders own 17.65% of the company's stock.

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.

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