Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by FORA Capital LLC

FORA Capital LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 171.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,727 shares of the cryptocurrency exchange's stock after buying an additional 13,713 shares during the period. FORA Capital LLC's holdings in Coinbase Global were worth $5,395,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in Coinbase Global during the 3rd quarter worth about $94,000. Principal Financial Group Inc. lifted its position in shares of Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after purchasing an additional 36,843 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Coinbase Global by 25.9% in the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock valued at $258,000 after purchasing an additional 214 shares during the period. Nordea Investment Management AB grew its holdings in shares of Coinbase Global by 5.9% in the fourth quarter. Nordea Investment Management AB now owns 14,934 shares of the cryptocurrency exchange's stock valued at $3,772,000 after purchasing an additional 836 shares in the last quarter. Finally, Fulton Bank N.A. increased its stake in Coinbase Global by 1.6% during the 4th quarter. Fulton Bank N.A. now owns 5,512 shares of the cryptocurrency exchange's stock worth $1,369,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Activity

In other news, insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,742 shares of company stock valued at $32,639,759. Company insiders own 17.65% of the company's stock.

Coinbase Global Stock Performance

NASDAQ:COIN traded down $7.03 during trading hours on Friday, reaching $199.47. 16,352,397 shares of the company's stock were exchanged, compared to its average volume of 9,657,497. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $50.64 billion, a price-to-earnings ratio of 21.00 and a beta of 3.62. The company has a 50-day moving average of $187.38 and a 200 day moving average of $243.06.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 EPS. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on COIN shares. Compass Point reissued a "sell" rating and issued a $180.00 price target on shares of Coinbase Global in a research report on Monday, April 28th. Benchmark assumed coverage on Coinbase Global in a research note on Wednesday, April 23rd. They set a "buy" rating and a $252.00 target price for the company. Rosenblatt Securities reduced their price target on Coinbase Global from $290.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Oppenheimer decreased their price objective on Coinbase Global from $279.00 to $269.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Bank of America cut 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $268.65.

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.