Wellington Management Group LLP Acquires 302,595 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Wellington Management Group LLP increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1,159.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 328,684 shares of the cryptocurrency exchange's stock after buying an additional 302,595 shares during the period. Wellington Management Group LLP owned 0.13% of Coinbase Global worth $81,612,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Coinbase Global in the fourth quarter worth about $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global during the 4th quarter valued at $372,450,000. Proficio Capital Partners LLC lifted its stake in Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Coinbase Global by 445.4% in the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after purchasing an additional 333,600 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Coinbase Global by 614.8% in the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock worth $85,253,000 after buying an additional 295,313 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

NASDAQ COIN traded down $2.72 during trading on Friday, reaching $246.12. 6,028,897 shares of the company traded hands, compared to its average volume of 10,170,819. The company has a market cap of $62.48 billion, a price-to-earnings ratio of 25.91 and a beta of 3.62. The stock's 50 day moving average price is $205.62 and its two-hundred day moving average price is $245.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. 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 issued its quarterly 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). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business earned $2.53 EPS. The business's revenue for the quarter was up 24.2% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

COIN has been the topic of a number of research analyst reports. JMP Securities restated a "market outperform" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Thursday, May 8th. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Rosenblatt Securities reiterated a "buy" rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Monday, May 12th. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $260.00 target price (up from $210.00) on shares of Coinbase Global in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director now owns 10,417 shares in the company, valued at $2,632,167.56. This represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 170,717 shares of company stock valued at $36,801,351 over the last three months. 17.65% of the stock is currently owned by corporate insiders.

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.