Price T Rowe Associates Inc. MD Trims Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Price T Rowe Associates Inc. MD trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 785,076 shares of the cryptocurrency exchange's stock after selling 110,752 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.31% of Coinbase Global worth $194,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in Coinbase Global during the third quarter worth about $3,866,000. Wilmington Savings Fund Society FSB bought a new position in shares of Coinbase Global in the third quarter worth approximately $94,000. Principal Financial Group Inc. raised its stake in Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after purchasing an additional 36,843 shares in the last quarter. Versant Capital Management Inc lifted its position in Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock valued at $74,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Coinbase Global by 25.9% in the 4th quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock worth $258,000 after buying an additional 214 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $16,505,971.56. This trade represents a 10.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 114,866 shares in the company, valued at approximately $22,973,200. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,970 shares of company stock valued at $38,672,615 in the last quarter. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. HC Wainwright reiterated a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Rosenblatt Securities dropped their target price on Coinbase Global from $290.00 to $260.00 and set a "buy" rating for the company in a research report on Friday. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a "neutral" rating and a $195.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of "Moderate Buy" and a consensus price target of $288.40.

Coinbase Global Stock Up 2.7 %

Shares of NASDAQ:COIN traded up $5.40 during trading on Friday, hitting $206.70. The stock had a trading volume of 3,439,067 shares, compared to its average volume of 9,631,387. The company has a market capitalization of $52.48 billion, a PE ratio of 21.78 and a beta of 3.65. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm's fifty day moving average is $188.67 and its 200 day moving average is $243.12. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global Company 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.