Vestmark Advisory Solutions Inc. Buys Shares of 161,194 Coinbase Global, Inc. (NASDAQ:COIN)

Vestmark Advisory Solutions Inc. acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 161,194 shares of the cryptocurrency exchange’s stock, valued at approximately $28,035,000. Coinbase Global comprises approximately 1.4% of Vestmark Advisory Solutions Inc.’s investment portfolio, making the stock its 12th largest holding.

Several other hedge funds also recently made changes to their positions in COIN. a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $147,646,000. Morgan Stanley grew its stake in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Coinbase Global by 142.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock worth $55,047,000 after purchasing an additional 430,546 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $34,422,000. Finally, Vanguard Group Inc. grew its stake in shares of Coinbase Global by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock worth $1,041,602,000 after purchasing an additional 176,525 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 2.4 %

Shares of COIN stock traded down $5.60 on Friday, hitting $223.25. The company’s stock had a trading volume of 13,739,132 shares, compared to its average volume of 9,158,455. The stock has a market capitalization of $54.09 billion, a price-to-earnings ratio of 44.56 and a beta of 3.46. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The firm’s fifty day moving average price is $236.37 and its 200-day moving average price is $165.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.46) earnings per share. Research analysts anticipate that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now owns 4,662 shares in the company, valued at approximately $558,181.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $147.03, for a total transaction of $3,392,717.25. The disclosure for this sale can be found here. Insiders have sold a total of 420,597 shares of company stock worth $86,053,862 over the last 90 days. Insiders own 33.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Bank of America raised their target price on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday. Finally, Piper Sandler raised their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Coinbase Global has an average rating of “Hold” and an average target price of $185.48.

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.