UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 222,789 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 979,129 shares of the cryptocurrency exchange's stock after acquiring an additional 222,789 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.39% of Coinbase Global worth $243,118,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB boosted its stake 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 purchasing an additional 106 shares during the last quarter. Studio Investment Management LLC bought a new position in shares of Coinbase Global in the 4th quarter valued at about $38,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the 4th quarter valued at about $50,000. Institutional investors own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COIN. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, May 9th. 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 note on Friday, May 9th. Monness Crespi & Hardt raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a research note on Tuesday, May 13th. Bank of America reduced their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $266.40.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 15,517 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $260.98, for a total value of $4,049,626.66. Following the completion of the sale, the director now owns 10,417 shares of the company's stock, valued at approximately $2,718,628.66. The trade was a 59.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,978 shares of the business'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 sale, the insider now directly owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. The trade was a 11.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,764 shares of company stock valued at $35,671,592 over the last ninety days. 17.65% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

NASDAQ COIN opened at $271.95 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The company has a market capitalization of $69.04 billion, a PE ratio of 28.63 and a beta of 3.62. The firm's 50 day moving average is $197.95 and its 200-day moving average is $246.11.

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

About Coinbase Global

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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