Sherbrooke Park Advisers LLC Purchases New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Sherbrooke Park Advisers LLC 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. The institutional investor bought 2,072 shares of the cryptocurrency exchange's stock, valued at approximately $514,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COIN. Norges Bank acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $372,450,000. Proficio Capital Partners LLC grew its position in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock valued at $103,888,000 after acquiring an additional 417,036 shares in the last quarter. Wellington Management Group LLP grew its position in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after acquiring an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Coinbase Global by 614.8% in the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock valued at $85,253,000 after acquiring an additional 295,313 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $104,226.90. The trade was a 95.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 1,952 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total value of $488,000.00. Following the completion of the transaction, the insider now directly owns 81,773 shares in the company, valued at approximately $20,443,250. This represents a 2.33% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,764 shares of company stock worth $35,671,592. 17.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a research note on Friday, May 9th. Monness Crespi & Hardt upgraded Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price for the company in a research note on Tuesday, May 13th. Benchmark increased their target price on Coinbase Global from $252.00 to $301.00 and gave the company a "buy" rating in a research note on Friday. JMP Securities reiterated a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average target price of $266.40.

Coinbase Global Stock Performance

Shares of COIN traded down $2.61 during trading hours on Tuesday, reaching $261.38. 8,566,585 shares of the company's stock traded hands, compared to its average volume of 10,169,600. The firm has a market capitalization of $66.36 billion, a price-to-earnings ratio of 27.51 and a beta of 3.62. 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, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The business's fifty day simple moving average is $193.10 and its two-hundred day simple moving average is $245.31.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the business posted $2.53 EPS. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. Analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

About Coinbase Global

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.