506,064 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Hamilton Lane Advisors LLC

Hamilton Lane Advisors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 506,064 shares of the cryptocurrency exchange's stock, valued at approximately $88,015,000. Coinbase Global comprises about 37.0% of Hamilton Lane Advisors LLC's portfolio, making the stock its largest holding. Hamilton Lane Advisors LLC owned 0.21% of Coinbase Global at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 1.3% during the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange's stock worth $1,041,602,000 after purchasing an additional 176,525 shares during the last quarter. Morgan Stanley lifted its stake in shares of Coinbase Global by 18.5% in the 3rd 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. Northern Trust Corp boosted its holdings in shares of Coinbase Global by 4.3% in the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange's stock valued at $67,359,000 after acquiring an additional 37,019 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global during the fourth quarter worth about $147,646,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Coinbase Global by 142.3% during 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 purchasing an additional 430,546 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Down 4.5 %

COIN stock traded down $9.53 during midday trading on Friday, hitting $200.92. The stock had a trading volume of 7,423,528 shares, compared to its average volume of 9,032,850. The company's 50-day moving average price is $237.58 and its 200 day moving average price is $171.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $49.34 billion, a PE ratio of 40.10 and a beta of 3.46. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $953.80 million for the quarter, compared to analysts' expectations of $826.10 million. During the same quarter last year, the firm earned ($2.46) earnings per share. The business's revenue was up 51.6% on a year-over-year basis. On average, equities research analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul Grewal sold 42,113 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares of the company's stock, valued at $12,585,661.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares of the company's stock, valued at $12,585,661.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company's stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total value of $3,473,870.40. Following the sale, the director now owns 4,662 shares of the company's stock, valued at $988,716.96. The disclosure for this sale can be found here. Insiders sold a total of 377,922 shares of company stock valued at $84,866,107 in the last 90 days. 33.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COIN has been the topic of several recent analyst reports. Oppenheimer boosted their target price on Coinbase Global from $276.00 to $282.00 and gave the stock an "outperform" rating in a research report on Friday, May 3rd. TheStreet raised Coinbase Global from a "d" rating to a "c-" rating in a report on Friday, February 16th. HC Wainwright upped their target price on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, April 29th. Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Friday, May 3rd. Finally, Sanford C. Bernstein boosted their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a "market perform" rating in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $200.63.

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.