Northern Trust Corp Has $321.49 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Northern Trust Corp grew its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 20.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,294,758 shares of the cryptocurrency exchange's stock after acquiring an additional 218,400 shares during the quarter. Northern Trust Corp owned 0.52% of Coinbase Global worth $321,488,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares during the period. Cullen Frost Bankers Inc. bought a new position in Coinbase Global in the fourth quarter valued at approximately $50,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after buying an additional 149 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $142,540.74. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the transaction, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,970 shares of company stock valued at $38,672,615 over the last ninety days. 23.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Mizuho reduced their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. JMP Securities dropped their target price on Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America reduced their price target on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.95.

Coinbase Global Stock Performance

NASDAQ COIN traded up $3.63 during trading on Friday, reaching $204.93. 6,104,672 shares of the company's stock were exchanged, compared to its average volume of 9,613,867. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business has a 50 day moving average price of $188.51 and a 200-day moving average price of $243.40. The stock has a market capitalization of $52.03 billion, a P/E ratio of 21.57 and a beta of 3.65. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.