Aviva PLC Buys 68,734 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Aviva PLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 305.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,240 shares of the cryptocurrency exchange's stock after purchasing an additional 68,734 shares during the quarter. Aviva PLC's holdings in Coinbase Global were worth $22,655,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $50,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after purchasing an additional 149 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COIN. Needham & Company LLC reaffirmed a "buy" rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Cantor Fitzgerald began coverage on shares of Coinbase Global in a research note on Tuesday. They issued an "overweight" rating and a $245.00 price target on the stock. The Goldman Sachs Group began coverage on Coinbase Global in a research report on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price objective on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $305.00 target price on shares of Coinbase Global in a report on Wednesday, March 26th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $298.74.

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Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 20,000 shares of the firm's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 124,470 shares of the company's stock, valued at approximately $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This represents a 96.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,767 shares of company stock worth $48,326,134 in the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Price Performance

Shares of COIN traded down $14.28 during trading hours on Thursday, reaching $162.82. 5,328,315 shares of the stock traded hands, compared to its average volume of 9,751,375. The company has a market cap of $41.34 billion, a P/E ratio of 17.28 and a beta of 3.65. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company's 50-day moving average price is $214.42 and its two-hundred day moving average price is $241.91. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.