Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1,261.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,498 shares of the cryptocurrency exchange's stock after purchasing an additional 118,131 shares during the period. APG Asset Management N.V. owned approximately 0.05% of Coinbase Global worth $30,572,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Advisory Services Network LLC grew its stake in shares of Coinbase Global by 38.4% in the fourth quarter. Advisory Services Network LLC now owns 9,266 shares of the cryptocurrency exchange's stock valued at $2,301,000 after buying an additional 2,571 shares in the last quarter. Capula Management Ltd boosted its stake in shares of Coinbase Global by 101.3% in the fourth quarter. Capula Management Ltd now owns 4,228 shares of the cryptocurrency exchange's stock valued at $1,050,000 after purchasing an additional 2,128 shares during the period. Bank of Nova Scotia increased its stake in Coinbase Global by 11.3% during the 4th quarter. Bank of Nova Scotia now owns 10,090 shares of the cryptocurrency exchange's stock worth $2,506,000 after buying an additional 1,024 shares during the period. Rathbones Group PLC lifted its holdings in Coinbase Global by 3.3% in the 4th quarter. Rathbones Group PLC now owns 6,596 shares of the cryptocurrency exchange's stock worth $1,638,000 after buying an additional 213 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Coinbase Global by 26.1% during the fourth quarter. Invesco Ltd. now owns 445,736 shares of the cryptocurrency exchange's stock valued at $110,676,000 after acquiring an additional 92,371 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

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Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the sale, the director now owns 10,417 shares of the company's stock, valued at $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $142,540.74. The trade was a 97.94 % decrease in their ownership of the stock. 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 over the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $5.88 during trading hours on Friday, hitting $175.50. The stock had a trading volume of 7,745,585 shares, compared to its average volume of 9,778,077. The stock's fifty day simple moving average is $210.02 and its 200 day simple moving average is $242.39. The firm has a market capitalization of $44.56 billion, a price-to-earnings ratio of 18.47 and a beta of 3.65. 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 1-year low of $142.58 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Canaccord Genuity Group lifted their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, February 14th. The Goldman Sachs Group began coverage on shares of Coinbase Global in a report on Thursday, March 20th. They set a "neutral" rating and a $195.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Mizuho lowered their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $298.74.

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.