Dimensional Fund Advisors LP Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Dimensional Fund Advisors LP increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 408,170 shares of the cryptocurrency exchange's stock after buying an additional 7,834 shares during the period. Dimensional Fund Advisors LP owned 0.16% of Coinbase Global worth $101,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $536,484,000. Groupama Asset Managment bought a new position in Coinbase Global during the fourth quarter valued at $372,450,000. Proficio Capital Partners LLC grew its stake in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after buying an additional 417,036 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock worth $81,612,000 after buying an additional 302,595 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock valued at $85,253,000 after buying an additional 295,313 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at $142,540.74. This trade represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,970 shares of company stock worth $38,672,615. Corporate insiders own 23.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on COIN shares. Cantor Fitzgerald began coverage on Coinbase Global in a research note on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective on the stock. JMP Securities cut their target price on Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Rosenblatt Securities reduced their target price on shares of Coinbase Global from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Barclays reduced their price objective 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. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus price target of $295.65.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $209.64 on Monday. 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 company has a market capitalization of $53.22 billion, a price-to-earnings ratio of 22.07 and a beta of 3.65. The firm has a 50 day moving average of $191.91 and a 200 day moving average of $243.42. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75.

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

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.

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