Invesco Ltd. Purchases 92,371 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Invesco Ltd. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 445,736 shares of the cryptocurrency exchange's stock after acquiring an additional 92,371 shares during the period. Invesco Ltd. owned approximately 0.18% of Coinbase Global worth $110,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of COIN. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc purchased a new position in shares of Coinbase Global in the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Coinbase Global by 365.5% during 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 period. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC grew its position in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock worth $52,000 after purchasing an additional 149 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN stock traded down $1.01 during mid-day trading on Tuesday, reaching $175.57. 5,331,763 shares of the stock traded hands, compared to its average volume of 9,747,237. 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 has a 50-day moving average of $208.05 and a two-hundred day moving average of $242.29. The firm has a market capitalization of $44.57 billion, a PE ratio of 18.48 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.

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Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS 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%. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. This trade represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $142,540.74. The trade was a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,767 shares of company stock valued at $48,326,134. Insiders own 23.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COIN. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Rosenblatt Securities reissued a "buy" rating and issued a $305.00 price target on shares of Coinbase Global in a research report on Wednesday, March 26th. JMP Securities decreased their price target on shares of Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Finally, Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $298.74.

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.