Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 798.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,806 shares of the cryptocurrency exchange’s stock after purchasing an additional 46,043 shares during the quarter. Clearbridge Investments LLC’s holdings in Coinbase Global were worth $12,864,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in COIN. CIBC Private Wealth Group LLC grew its position in Coinbase Global by 131.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,512 shares of the cryptocurrency exchange’s stock valued at $1,433,000 after acquiring an additional 3,131 shares during the period. IPG Investment Advisors LLC lifted its stake in shares of Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after purchasing an additional 45 shares in the last quarter. RWA Wealth Partners LLC grew its holdings in shares of Coinbase Global by 8.7% during the 4th quarter. RWA Wealth Partners LLC now owns 2,509 shares of the cryptocurrency exchange’s stock worth $623,000 after purchasing an additional 201 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Coinbase Global by 51.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 72,681 shares of the cryptocurrency exchange’s stock valued at $18,047,000 after buying an additional 24,536 shares during the period. Finally, Allianz SE acquired a new position in Coinbase Global during the fourth quarter valued at approximately $263,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 4.8 %

COIN stock opened at $182.95 on Thursday. The firm has a fifty day moving average price of $232.25 and a two-hundred day moving average price of $242.55. 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 1-year low of $146.12 and a 1-year high of $349.75. The firm has a market cap of $46.45 billion, a price-to-earnings ratio of 19.26 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 net margin of 39.34% and a return on equity of 20.64%. Research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on COIN. Rosenblatt Securities reissued a “buy” rating and issued a $305.00 target price on shares of Coinbase Global in a research note on Wednesday, March 26th. Bank of America reduced their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. HC Wainwright restated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Finally, Piper Sandler lifted 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. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,609 shares of company stock valued at $58,765,008. Insiders own 23.43% of the company’s stock.

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.