First Trust Advisors LP Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

First Trust Advisors LP lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 33.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,635 shares of the cryptocurrency exchange's stock after purchasing an additional 41,115 shares during the quarter. First Trust Advisors LP owned 0.06% of Coinbase Global worth $40,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the 4th quarter worth $27,000. Atala Financial Inc purchased a new position in Coinbase Global in the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its stake 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 acquiring an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at about $50,000. Finally, Bogart Wealth LLC lifted its stake 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 purchasing an additional 149 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 2.8 %

COIN stock traded up $5.77 during trading on Friday, reaching $209.64. The company had a trading volume of 8,046,856 shares, compared to its average volume of 9,718,514. The business has a 50 day moving average of $191.91 and a 200 day moving average of $243.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $53.22 billion, a P/E ratio of 22.07 and a beta of 3.65. 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 announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. The Goldman Sachs Group began coverage on shares of Coinbase Global in a report on Thursday, March 20th. They set a "neutral" rating and a $195.00 target price on the stock. Finally, Rosenblatt Securities lowered their price target on shares of Coinbase Global from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Seven 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $295.65.

Insider Activity

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at $142,540.74. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 107,291 shares in the company, valued at approximately $21,458,200. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,970 shares of company stock worth $38,672,615. Corporate 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.