Arrowstreet Capital Limited Partnership Has $18.05 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Arrowstreet Capital Limited Partnership lifted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 51.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,681 shares of the cryptocurrency exchange's stock after buying an additional 24,536 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Coinbase Global were worth $18,047,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the 4th 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 during the last quarter. Cullen Frost Bankers Inc. bought a new position in Coinbase Global during the fourth quarter worth $50,000. Finally, Bogart Wealth LLC increased its holdings in shares of 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.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $88,646.78. This trade represents a 96.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,978 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64 % 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 valued at $48,326,134 over the last ninety days. 23.43% of the stock is owned by company insiders.

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Coinbase Global Trading Up 4.7 %

Shares of NASDAQ:COIN traded up $7.41 during mid-day trading on Tuesday, reaching $164.69. 2,967,947 shares of the company's stock were exchanged, compared to its average volume of 9,697,369. The firm has a market capitalization of $41.81 billion, a price-to-earnings ratio of 17.34 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. The business's fifty day moving average price is $224.58 and its 200-day moving average price is $243.09. 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 (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS 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.

Analysts Set New Price Targets

Several brokerages recently commented on COIN. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. Needham & Company LLC restated a "buy" rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Cantor Fitzgerald assumed 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 note on Thursday, March 20th. They set a "neutral" rating and a $195.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted 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 report on Tuesday, February 18th. 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 company's stock. According to MarketBeat, the company currently has an average 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.