Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 36.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,920 shares of the cryptocurrency exchange's stock after acquiring an additional 6,968 shares during the period. Russell Investments Group Ltd.'s holdings in Coinbase Global were worth $6,436,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Coinbase Global during the 4th quarter worth about $536,484,000. Groupama Asset Managment purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $372,450,000. Proficio Capital Partners LLC boosted its stake in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock valued at $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Wellington Management Group LLP increased its holdings in Coinbase Global by 1,159.9% during the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares during the period. Finally, Franklin Resources Inc. raised its stake in Coinbase Global by 614.8% in the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock worth $85,253,000 after buying an additional 295,313 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the sale, the director now owns 10,417 shares of the company's stock, valued at $3,114,162.15. This trade represents a 70.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,767 shares of company stock worth $48,326,134. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Performance

NASDAQ COIN traded down $1.01 on Tuesday, hitting $175.57. 5,331,763 shares of the company's stock traded hands, compared to its average volume of 9,747,231. The firm's 50-day moving average price is $208.05 and its two-hundred day moving average price is $242.29. The firm has a market capitalization of $44.57 billion, a PE ratio of 18.48 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. 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 earnings per share (EPS) for the quarter, beating 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, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COIN. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Barclays decreased their price target on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Bank of America decreased their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus price target of $298.74.

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.