Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 511.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,588 shares of the cryptocurrency exchange's stock after purchasing an additional 19,733 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Coinbase Global were worth $5,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Coinbase Global in the 4th quarter valued at $536,484,000. Groupama Asset Managment acquired a new position in shares of Coinbase Global during the fourth quarter worth about $372,450,000. Proficio Capital Partners LLC raised its holdings in Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after purchasing an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock worth $85,253,000 after purchasing an additional 295,313 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 1.0 %

Shares of NASDAQ:COIN traded down $2.08 during trading on Tuesday, reaching $197.32. 3,657,890 shares of the stock were exchanged, compared to its average volume of 9,573,295. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The firm's 50-day moving average price is $188.23 and its 200 day moving average price is $243.53. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market cap of $50.09 billion, a price-to-earnings ratio of 20.80 and a beta of 3.62.

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

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 107,291 shares in the company, valued at approximately $21,458,200. This trade represents a 6.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $144,786.76. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,742 shares of company stock worth $27,626,259 over the last quarter. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on COIN shares. Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Piper Sandler raised their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Cantor Fitzgerald began coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Monness Crespi & Hardt cut Coinbase Global from a "buy" rating to a "neutral" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $285.95.

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.