Nuveen LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 484,547 shares of the cryptocurrency exchange's stock, valued at approximately $83,454,000. Nuveen LLC owned approximately 0.19% of Coinbase Global at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vivaldi Capital Management LP grew its holdings in shares of Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after purchasing an additional 47 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Coinbase Global by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock worth $2,746,000 after purchasing an additional 55 shares during the last quarter. Callan Capital LLC grew its holdings in shares of Coinbase Global by 5.1% during the first quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock worth $215,000 after purchasing an additional 61 shares during the last quarter. Emory University grew its holdings in shares of Coinbase Global by 1.5% during the fourth quarter. Emory University now owns 4,376 shares of the cryptocurrency exchange's stock worth $1,087,000 after purchasing an additional 64 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC grew its holdings in shares of Coinbase Global by 2.7% during the first quarter. TRU Independence Asset Management 2 LLC now owns 2,493 shares of the cryptocurrency exchange's stock worth $429,000 after purchasing an additional 65 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Coinbase Global
In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the sale, the insider directly owned 82,328 shares of the company's stock, valued at approximately $28,702,833.92. The trade was a 10.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the sale, the chief financial officer directly owned 97,366 shares in the company, valued at $35,071,233.20. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,160,704 shares of company stock valued at $430,750,982. 23.43% of the stock is owned by insiders.
Coinbase Global Price Performance
Shares of Coinbase Global stock opened at $322.62 on Wednesday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $335.61 and a two-hundred day simple moving average of $260.41. The stock has a market capitalization of $82.89 billion, a price-to-earnings ratio of 31.20 and a beta of 3.70.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.
Analyst Ratings Changes
A number of research firms recently issued reports on COIN. Compass Point reissued a "sell" rating and set a $248.00 price target (down previously from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Jefferies Financial Group lifted their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Rosenblatt Securities restated a "buy" rating and set a $470.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Oppenheimer reiterated an "outperform" rating and issued a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Finally, William Blair began coverage on shares of Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $352.18.
Read Our Latest Stock Analysis on COIN
Coinbase Global Company Profile
(
Free Report)
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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Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

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