Donoghue Forlines LLC Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Donoghue Forlines LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,691 shares of the cryptocurrency exchange's stock, valued at approximately $1,859,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COIN. a16z Perennial Management L.P. acquired a new position in Coinbase Global during the fourth quarter worth $147,646,000. Morgan Stanley grew its holdings in Coinbase Global by 18.5% during 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew 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 valued at $55,047,000 after purchasing an additional 430,546 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Coinbase Global in the fourth quarter valued at $34,422,000. Finally, Vanguard Group Inc. grew its holdings 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. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Trading Down 4.5 %

NASDAQ COIN traded down $9.53 during trading hours on Friday, hitting $200.92. 7,423,528 shares of the company's stock were exchanged, compared to its average volume of 9,032,850. The business's 50 day moving average is $237.58 and its 200-day moving average is $171.19. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The firm has a market capitalization of $49.34 billion, a P/E ratio of 40.10 and a beta of 3.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company's quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the business posted ($2.46) EPS. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.83 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 42,113 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Paul Grewal sold 42,113 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $212.08, for a total value of $3,473,870.40. Following the completion of the sale, the director now owns 4,662 shares of the company's stock, valued at approximately $988,716.96. The disclosure for this sale can be found here. Insiders have sold a total of 377,922 shares of company stock worth $84,866,107 in the last three months. 33.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho upped their target price on Coinbase Global from $84.00 to $145.00 and gave the company an "underperform" rating in a report on Friday, April 12th. HC Wainwright upped their target price on Coinbase Global from $250.00 to $300.00 and gave the company a "buy" rating in a report on Monday, April 29th. Barclays upped their target price on Coinbase Global from $179.00 to $204.00 and gave the company an "underweight" rating in a report on Monday, May 6th. Sanford C. Bernstein upped their target price on Coinbase Global from $80.00 to $200.00 and gave the company a "market perform" rating in a report on Thursday, April 18th. Finally, Wedbush upped their price objective on Coinbase Global from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $200.63.

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.