80,000 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Monolith Management Ltd

Monolith Management Ltd bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 80,000 shares of the cryptocurrency exchange's stock, valued at approximately $13,914,000. Coinbase Global makes up approximately 7.3% of Monolith Management Ltd's investment portfolio, making the stock its 4th largest position.

Several other institutional investors also recently bought and sold shares of COIN. TD Asset Management Inc boosted its position in Coinbase Global by 8.0% during the third quarter. TD Asset Management Inc now owns 21,321 shares of the cryptocurrency exchange's stock worth $1,601,000 after acquiring an additional 1,579 shares during the last quarter. Arete Wealth Advisors LLC increased its stake in shares of Coinbase Global by 15.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 6,432 shares of the cryptocurrency exchange's stock worth $483,000 after acquiring an additional 864 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Coinbase Global by 957.5% during the 3rd quarter. Fifth Third Bancorp now owns 12,182 shares of the cryptocurrency exchange's stock valued at $915,000 after acquiring an additional 11,030 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Coinbase Global by 4.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 13,032 shares of the cryptocurrency exchange's stock valued at $978,000 after acquiring an additional 539 shares during the last quarter. Finally, Nwam LLC increased its position in Coinbase Global by 10.9% during the third quarter. Nwam LLC now owns 6,977 shares of the cryptocurrency exchange's stock worth $524,000 after purchasing an additional 686 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 8,735 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $186.00, for a total value of $1,624,710.00. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at $867,132. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 8,735 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $186.00, for a total transaction of $1,624,710.00. Following the completion of the sale, the director now directly owns 4,662 shares of the company's stock, valued at approximately $867,132. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 42,113 shares of the business'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 completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The disclosure for this sale can be found here. Insiders sold a total of 470,563 shares of company stock valued at $104,873,137 in the last three months. 33.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on COIN shares. Canaccord Genuity Group increased their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the company a "buy" rating in a research note on Friday, May 3rd. Needham & Company LLC lowered their target price on shares of Coinbase Global from $275.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, May 3rd. JMP Securities reiterated a "market outperform" rating and set a $320.00 price target on shares of Coinbase Global in a research report on Friday, May 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Friday, May 3rd. Finally, Sanford C. Bernstein lifted their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a "market perform" rating in a report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has an average rating of "Hold" and a consensus price target of $200.63.

Coinbase Global Stock Up 8.3 %

COIN stock traded up $16.86 during midday trading on Wednesday, reaching $219.91. 9,298,895 shares of the company were exchanged, compared to its average volume of 12,802,160. The company has a market cap of $54.00 billion, a price-to-earnings ratio of 43.44 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, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The stock's 50-day simple moving average is $236.71 and its 200 day simple moving average is $173.65.

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