Gotham Asset Management LLC Purchases New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Gotham Asset Management LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,798 shares of the cryptocurrency exchange's stock, valued at approximately $446,000.

Other hedge funds have also made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $50,000. Finally, BNP Paribas purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target for the company. Canaccord Genuity Group reissued a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a research note on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, May 12th. Needham & Company LLC decreased their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Barclays lifted their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Ten equities research 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. According to MarketBeat.com, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus price target of $266.40.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the transaction, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. This trade represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This trade represents a 96.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,764 shares of company stock worth $35,671,592 in the last quarter. 17.65% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 0.9%

COIN 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. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a fifty day simple moving average of $193.10 and a 200 day simple moving average of $245.31. The firm has a market cap of $67.02 billion, a PE ratio of 27.79 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 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business's revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.53 EPS. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.

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