Wellington Management Group LLP Acquires 302,595 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Wellington Management Group LLP grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1,159.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,684 shares of the cryptocurrency exchange's stock after acquiring an additional 302,595 shares during the period. Wellington Management Group LLP owned about 0.13% of Coinbase Global worth $81,612,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in shares of Coinbase Global by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange's stock valued at $1,854,000 after buying an additional 186 shares during the last quarter. Janus Henderson Group PLC raised its position in Coinbase Global by 36.8% in the third quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange's stock worth $2,767,000 after acquiring an additional 4,177 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Coinbase Global in the third quarter worth approximately $450,000. Investment Management Corp of Ontario grew its position in Coinbase Global by 53.3% during the third quarter. Investment Management Corp of Ontario now owns 6,331 shares of the cryptocurrency exchange's stock valued at $1,128,000 after purchasing an additional 2,200 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its stake in shares of Coinbase Global by 36.0% during the 3rd quarter. IHT Wealth Management LLC now owns 9,030 shares of the cryptocurrency exchange's stock valued at $1,569,000 after buying an additional 2,392 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

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Insider Buying and Selling

In related news, CEO Brian Armstrong sold 15,000 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $88,646.78. The trade was a 96.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the transaction, the chief financial officer now owns 114,866 shares of the company's stock, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 182,767 shares of company stock valued at $48,326,134. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Trading Up 3.5 %

Shares of NASDAQ:COIN traded up $5.46 during mid-day trading on Tuesday, reaching $162.74. The stock had a trading volume of 3,450,170 shares, compared to its average volume of 9,699,546. The firm has a 50 day simple moving average of $224.58 and a two-hundred day simple moving average of $243.09. 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 firm has a market cap of $41.32 billion, a PE ratio of 17.05 and a beta of 3.65. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month 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 for the quarter, topping 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%. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on COIN shares. HC Wainwright reaffirmed a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Keefe, Bruyette & Woods boosted their target price 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 cut their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a report on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $302.68.

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.