Quantinno Capital Management LP Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Quantinno Capital Management LP boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 134.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,661 shares of the cryptocurrency exchange's stock after purchasing an additional 4,961 shares during the quarter. Quantinno Capital Management LP's holdings in Coinbase Global were worth $2,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Savant Capital LLC purchased a new position in shares of Coinbase Global during the fourth quarter valued at about $591,000. Principal Financial Group Inc. grew its holdings 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 buying an additional 36,843 shares in the last quarter. Oxinas Partners Wealth Management LLC bought a new stake in Coinbase Global in the fourth quarter worth $265,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Coinbase Global by 33.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange's stock valued at $25,729,000 after acquiring an additional 25,972 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Coinbase Global by 9.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange's stock worth $22,413,000 after purchasing an additional 7,597 shares during the period. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

NASDAQ COIN traded down $8.79 during trading hours on Monday, reaching $263.16. The company's stock had a trading volume of 9,253,825 shares, compared to its average volume of 10,199,748. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company's 50-day moving average is $199.59 and its two-hundred day moving average is $246.47. The firm has a market capitalization of $66.81 billion, a price-to-earnings ratio of 27.70 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results 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 net margin of 39.34% and a return on equity of 20.64%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the business earned $2.53 EPS. The company's quarterly revenue was up 24.2% on a year-over-year basis. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,632,167.56. The trade was a 74.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company's stock, valued at $17,656,524.09. The trade was a 11.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,764 shares of company stock worth $35,671,592. Company insiders own 17.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COIN shares. The Goldman Sachs Group lifted their target price on Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Oppenheimer set a $293.00 price objective on shares of Coinbase Global in a research note on Thursday, May 15th. Piper Sandler raised their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, Sanford C. Bernstein upgraded 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $266.40.

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.