950 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Quantessence Capital LLC

Quantessence Capital LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 950 shares of the cryptocurrency exchange’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also bought and sold shares of COIN. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after buying an additional 128,802 shares during the last quarter. Geode Capital Management LLC boosted its stake in Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after purchasing an additional 127,075 shares during the last quarter. Norges Bank bought a new stake in shares of Coinbase Global in the 4th quarter worth $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global in the fourth quarter worth $372,450,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Coinbase Global by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after purchasing an additional 15,954 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on COIN. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. The Goldman Sachs Group started coverage on Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, JMP Securities lowered their price objective on shares of Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $297.95.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. The trade was a 96.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total value of $4,271,606.28. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,922,072.67. The trade was a 59.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,611 shares of company stock worth $34,376,005. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Performance

NASDAQ COIN opened at $190.00 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The business has a 50-day moving average price of $196.01 and a 200-day moving average price of $242.14. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of 20.00 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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%. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS 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.