Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 51.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,681 shares of the cryptocurrency exchange’s stock after purchasing an additional 24,536 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Coinbase Global were worth $18,047,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COIN. Allianz SE acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $263,000. WealthTrak Capital Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $75,000. Allstate Corp acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $1,420,000. Brown Brothers Harriman & Co. grew its position in shares of Coinbase Global by 36.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 346 shares of the cryptocurrency exchange’s stock worth $86,000 after acquiring an additional 92 shares during the last quarter. Finally, DnB Asset Management AS increased its holdings in shares of Coinbase Global by 6.2% in the 4th quarter. DnB Asset Management AS now owns 34,310 shares of the cryptocurrency exchange’s stock valued at $8,519,000 after acquiring an additional 2,003 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $142,540.74. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 190,609 shares of company stock valued at $52,238,258 over the last quarter. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on COIN shares. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. JMP Securities increased their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Piper Sandler increased their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group assumed coverage on Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Stock Performance

Shares of COIN stock opened at $160.55 on Friday. The stock has a fifty day moving average price of $226.99 and a 200 day moving average price of $242.05. 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 stock has a market cap of $40.76 billion, a PE ratio of 16.90 and a beta of 3.66. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) 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%. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.