Duality Advisers LP Buys New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Duality Advisers LP purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,669 shares of the cryptocurrency exchange's stock, valued at approximately $3,247,000.

Several other institutional investors have also recently made changes to their positions in COIN. Vanguard Group Inc. grew its stake in Coinbase Global by 1.3% in the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange's stock valued at $1,041,602,000 after purchasing an additional 176,525 shares during the last quarter. Morgan Stanley boosted its holdings in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange's stock worth $246,250,000 after acquiring an additional 511,397 shares in the last quarter. Northern Trust Corp boosted its holdings in Coinbase Global by 4.3% in the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange's stock worth $67,359,000 after acquiring an additional 37,019 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange's stock worth $55,047,000 after acquiring an additional 430,546 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Coinbase Global by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 618,842 shares of the cryptocurrency exchange's stock worth $46,463,000 after acquiring an additional 20,296 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the transaction, the insider now directly owns 61,665 shares of the company's stock, valued at approximately $7,462,698.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the transaction, the insider now directly owns 61,665 shares of the company's stock, valued at approximately $7,462,698.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares of the company's stock, valued at $558,181.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 607,358 shares of company stock valued at $106,945,156. 33.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research reports. HC Wainwright lifted their target price on Coinbase Global from $115.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Piper Sandler lifted their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 12th. Sanford C. Bernstein lifted their target price on Coinbase Global from $80.00 to $200.00 and gave the stock a "market perform" rating in a report on Thursday. JMP Securities reaffirmed a "market outperform" rating on shares of Coinbase Global in a report on Friday, March 22nd. Finally, TheStreet raised Coinbase Global from a "d" rating to a "c-" rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $165.43.

Coinbase Global Price Performance

Shares of COIN stock traded up $14.85 during trading hours on Monday, hitting $225.86. 8,146,202 shares of the company's stock were exchanged, compared to its average volume of 13,847,423. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market cap of $54.72 billion, a P/E ratio of 836.52 and a beta of 3.41. The firm has a 50 day moving average of $226.26 and a two-hundred day moving average of $157.80. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business's quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the company posted ($2.46) EPS. Sell-side analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Coinbase Global 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.