Vise Technologies Inc. Raises Position in Coinbase Global, Inc. (NASDAQ:COIN)

Vise Technologies Inc. lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 56.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,930 shares of the cryptocurrency exchange's stock after purchasing an additional 1,413 shares during the quarter. Vise Technologies Inc.'s holdings in Coinbase Global were worth $976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange's stock valued at $4,573,462,000 after acquiring an additional 128,802 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock worth $882,822,000 after purchasing an additional 127,075 shares during the last quarter. Norges Bank bought a new stake in Coinbase Global in the 4th quarter worth approximately $536,484,000. Groupama Asset Managment purchased a new stake in Coinbase Global during the 4th quarter valued at $372,450,000. Finally, Northern Trust Corp lifted its holdings in shares of Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after buying an additional 218,400 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity

In other news, CFO Alesia J. Haas sold 7,575 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total value of $1,981,200.00. Following the sale, the insider now owns 83,313 shares of the company's stock, valued at $16,505,971.56. This trade represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,786 shares of company stock worth $33,345,024. 17.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COIN shares. Benchmark increased their target price on Coinbase Global from $252.00 to $301.00 and gave the company a "buy" rating in a report on Friday, May 16th. Mizuho reduced their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Oppenheimer set a $293.00 target price on Coinbase Global in a research report on Thursday, May 15th. The Goldman Sachs Group upped their price target on Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a research report on Friday, May 9th. Eleven 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $266.10.

Coinbase Global Trading Down 4.5%

COIN traded down $12.11 during trading on Wednesday, hitting $254.29. 8,210,525 shares of the stock were exchanged, compared to its average volume of 10,180,334. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a 50 day simple moving average of $202.58 and a 200 day simple moving average of $246.56. The firm has a market cap of $64.56 billion, a price-to-earnings ratio of 26.77 and a beta of 3.62. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75.

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