Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Vident Advisory LLC

Vident Advisory LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,406 shares of the cryptocurrency exchange's stock after buying an additional 5,473 shares during the period. Vident Advisory LLC's holdings in Coinbase Global were worth $9,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Savant Capital LLC acquired a new stake in Coinbase Global in the 4th quarter valued at $591,000. Principal Financial Group Inc. increased its holdings in Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after purchasing an additional 36,843 shares in the last quarter. Oxinas Partners Wealth Management LLC acquired a new stake in Coinbase Global in the 4th quarter valued at $265,000. Robeco Institutional Asset Management B.V. increased its holdings in 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 purchasing an additional 25,972 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Coinbase Global by 9.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange's stock valued at $22,413,000 after buying an additional 7,597 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Down 0.9%

Shares of Coinbase Global stock opened at $263.99 on Tuesday. 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 business's 50 day simple moving average is $193.10 and its 200-day simple moving average is $245.31. The stock has a market capitalization of $67.02 billion, a price-to-earnings ratio of 27.79 and a beta of 3.62. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

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 business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company earned $2.53 earnings per share. The business's quarterly revenue was up 24.2% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Monness Crespi & Hardt raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Tuesday, May 13th. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. Needham & Company LLC decreased their price objective on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a research report on Friday, May 9th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has an average rating of "Moderate Buy" and an average target price of $266.40.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 15,517 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $2,718,628.66. This trade represents a 59.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 10,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $104,226.90. The trade was a 95.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,764 shares of company stock valued at $35,671,592 in the last three months. 17.65% of the stock is currently owned by corporate insiders.

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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