Mariner LLC Increases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Mariner LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,219 shares of the cryptocurrency exchange's stock after acquiring an additional 6,798 shares during the quarter. Mariner LLC's holdings in Coinbase Global were worth $19,920,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $50,000. Finally, Bogart Wealth LLC increased its holdings in Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock worth $52,000 after buying 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 other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the company'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 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 166,805 shares of company stock valued at $41,907,752 in the last ninety days. 23.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JMP Securities lowered their price objective on Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Canaccord Genuity Group upped their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective for the company. Bank of America dropped their target price on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coinbase Global has a consensus rating of "Moderate Buy" and a consensus price target of $297.95.

Coinbase Global Trading Up 1.6 %

COIN traded up $2.82 on Friday, hitting $175.03. The company had a trading volume of 5,118,506 shares, compared to its average volume of 9,680,447. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business's fifty day simple moving average is $200.17 and its 200 day simple moving average is $241.39. The company has a market cap of $44.44 billion, a PE ratio of 18.42 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data 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 net margin of 39.34% and a return on equity of 20.64%. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.