American Century Companies Inc. Sells 3,226 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

American Century Companies Inc. lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 384,053 shares of the cryptocurrency exchange's stock after selling 3,226 shares during the quarter. American Century Companies Inc. owned approximately 0.15% of Coinbase Global worth $95,360,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COIN. Wellington Management Group LLP boosted its holdings in Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock valued at $4,648,000 after acquiring an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $252,000. Virtu Financial LLC purchased a new position in shares of Coinbase Global in the third quarter worth $3,866,000. Blueshift Asset Management LLC increased its position in shares of Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange's stock valued at $3,359,000 after acquiring an additional 16,998 shares during the period. Finally, Savant Capital LLC purchased a new stake in Coinbase Global in the 4th quarter worth approximately $591,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. This represents a 12.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $2,936,968.98. The trade was a 68.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,034 shares of company stock worth $57,835,408. 23.43% of the stock is owned by corporate insiders.

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Coinbase Global Stock Up 0.6 %

Shares of NASDAQ COIN traded up $1.19 during midday trading on Tuesday, reaching $204.23. 7,851,783 shares of the company's stock were exchanged, compared to its average volume of 9,646,550. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The business's fifty day moving average price is $246.30 and its two-hundred day moving average price is $241.82. The stock has a market capitalization of $51.85 billion, a PE ratio of 21.50 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COIN. Barclays increased their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Needham & Company LLC reiterated a "buy" rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods raised their price target on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $314.72.

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.