NZS Capital LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 32,204 shares of the cryptocurrency exchange's stock, valued at approximately $7,996,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of 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 stake in shares of Coinbase Global during the fourth quarter worth approximately $50,000. Finally, Bogart Wealth LLC boosted its stake in 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 acquiring an additional 149 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.
Coinbase Global Stock Down 0.8 %
NASDAQ:COIN traded down $1.59 during trading hours on Thursday, reaching $201.30. 6,224,762 shares of the stock were exchanged, compared to its average volume of 9,657,681. The stock has a market cap of $51.11 billion, a PE ratio of 21.19 and a beta of 3.65. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The firm has a 50 day moving average of $189.18 and a 200 day moving average of $243.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.
Insider Activity at Coinbase Global
In related news, CEO Brian Armstrong sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $198.44, for a total transaction of $3,968,800.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $104,379.44. The trade was a 97.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,970 shares of company stock valued at $38,672,615. 23.43% of the stock is owned by insiders.
Analysts Set New Price Targets
Several analysts have commented on COIN shares. JMP Securities dropped their target price on shares of Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group assumed coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 target price on the stock. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. Compass Point reiterated a "sell" rating and issued a $180.00 price target on shares of Coinbase Global in a research report on Monday. Finally, Cantor Fitzgerald began coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $289.90.
Check Out Our Latest Analysis on Coinbase Global
About Coinbase Global
(
Free Report)
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.
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