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

Arrowstreet Capital Limited Partnership increased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 51.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,681 shares of the cryptocurrency exchange's stock after buying an additional 24,536 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Coinbase Global were worth $18,047,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in COIN. Allianz SE bought a new stake in Coinbase Global during the fourth quarter worth approximately $263,000. WealthTrak Capital Management LLC acquired a new position in Coinbase Global during the 4th quarter worth $75,000. Allstate Corp acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $1,420,000. Brown Brothers Harriman & Co. grew its holdings in Coinbase Global by 36.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 346 shares of the cryptocurrency exchange's stock valued at $86,000 after buying an additional 92 shares during the last quarter. Finally, DnB Asset Management AS lifted its holdings in shares of Coinbase Global by 6.2% during the fourth quarter. DnB Asset Management AS now owns 34,310 shares of the cryptocurrency exchange's stock worth $8,519,000 after buying an additional 2,003 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. 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. JMP Securities decreased their price target on shares of Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating on the stock in a research note on Tuesday. Rosenblatt Securities reiterated a "buy" rating and set a $305.00 target price on shares of Coinbase Global in a research report on Wednesday, March 26th. Finally, Barclays decreased their price objective on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating on the stock in a report on Monday. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $298.74.

Coinbase Global Trading Down 3.7 %

Shares of NASDAQ:COIN traded down $5.81 during mid-day trading on Tuesday, reaching $151.47. The stock had a trading volume of 11,071,172 shares, compared to its average volume of 9,738,020. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. 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 $38.46 billion, a PE ratio of 15.94 and a beta of 3.65. The firm has a 50 day simple moving average of $219.19 and a two-hundred day simple moving average of $242.32.

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 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.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm'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 transaction of $7,531,746.30. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at $3,114,162.15. This trade represents a 70.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $88,646.78. The trade was a 96.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,767 shares of company stock valued at $48,326,134. 23.43% of the stock is owned by corporate insiders.

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.