Canada Pension Plan Investment Board Sells 28,018 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Canada Pension Plan Investment Board reduced its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,189 shares of the cryptocurrency exchange's stock after selling 28,018 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of Coinbase Global worth $52,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $50,000. Finally, Bogart Wealth LLC raised its position in Coinbase Global by 252.5% in 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 and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on COIN shares. Benchmark assumed coverage on shares of Coinbase Global in a report on Wednesday. They set a "buy" rating and a $252.00 target price on the stock. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. The Goldman Sachs Group assumed coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price objective on the stock. Cantor Fitzgerald began coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $295.65.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the sale, the director now directly owns 10,417 shares of the company's stock, valued at $3,230,728.38. This represents a 49.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company's stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,611 shares of company stock valued at $34,376,005 over the last quarter. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $2.98 during trading on Wednesday, hitting $192.98. The stock had a trading volume of 5,629,485 shares, compared to its average volume of 9,666,350. The firm has a market cap of $48.99 billion, a price-to-earnings ratio of 20.31 and a beta of 3.65. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The business's 50-day moving average is $196.01 and its 200 day moving average is $242.14. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

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.