Dark Forest Capital Management LP Acquires New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Dark Forest Capital Management LP bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,726 shares of the cryptocurrency exchange's stock, valued at approximately $4,401,000. Coinbase Global makes up approximately 0.6% of Dark Forest Capital Management LP's holdings, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth about $27,000. Atala Financial Inc bought a new position in Coinbase Global in the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global during the fourth quarter worth $50,000. Finally, Bogart Wealth LLC increased its holdings in shares of 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 in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Up 2.8 %

Shares of Coinbase Global stock traded up $5.77 on Friday, hitting $209.64. The company had a trading volume of 8,046,856 shares, compared to its average volume of 9,685,647. The stock has a market capitalization of $53.22 billion, a price-to-earnings ratio of 22.07 and a beta of 3.65. 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, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The stock has a 50 day moving average of $193.01 and a 200-day moving average of $242.06.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COIN shares. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group upped their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Barclays cut their target price on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, JMP Securities reduced their price objective 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, April 8th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of "Moderate Buy" and an average price target of $295.65.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This represents a 96.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total value of $4,271,606.28. Following the sale, the director now owns 10,417 shares in the company, valued at $2,922,072.67. The trade was a 59.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,970 shares of company stock worth $38,672,615 in the last 90 days. Insiders own 23.43% of the company's stock.

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.