Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Raised by Zacks Investment Management

Zacks Investment Management raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 26.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,550 shares of the cryptocurrency exchange's stock after acquiring an additional 3,039 shares during the quarter. Zacks Investment Management's holdings in Coinbase Global were worth $3,613,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COIN shares. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Needham & Company LLC restated a "buy" rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research report on Monday, February 10th. Rosenblatt Securities dropped their price objective on shares of Coinbase Global from $305.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, 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 report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has an average rating of "Moderate Buy" and an average price target of $297.95.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $88,646.78. This represents a 96.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the sale, the director now directly owns 10,417 shares of the company's stock, valued at approximately $3,230,728.38. This represents a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,611 shares of company stock valued at $34,376,005. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Performance

COIN traded up $13.56 on Tuesday, hitting $188.56. 4,984,919 shares of the company's stock were exchanged, compared to its average volume of 9,646,155. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $198.17 and a two-hundred day moving average of $242.51. The firm has a market cap of $47.87 billion, a PE ratio of 19.88 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.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, research analysts anticipate 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.