Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Increased by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 454.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,556 shares of the cryptocurrency exchange's stock after acquiring an additional 33,240 shares during the quarter. Intech Investment Management LLC's holdings in Coinbase Global were worth $10,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mizuho Markets Americas LLC lifted its stake in Coinbase Global by 8.6% in the first quarter. Mizuho Markets Americas LLC now owns 51,686 shares of the cryptocurrency exchange's stock valued at $13,703,000 after buying an additional 4,088 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Coinbase Global in the 1st quarter valued at $201,000. Trillium Asset Management LLC purchased a new stake in Coinbase Global in the 1st quarter valued at $292,000. Orion Portfolio Solutions LLC boosted its stake in Coinbase Global by 80.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 4,366 shares of the cryptocurrency exchange's stock worth $1,157,000 after purchasing an additional 1,941 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Coinbase Global by 26.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 97,274 shares of the cryptocurrency exchange's stock worth $25,789,000 after purchasing an additional 20,225 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the sale, the chief accounting officer now owns 2,212 shares of the company's stock, valued at $529,287.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Jennifer N. Jones sold 15,580 shares of the business's stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now owns 2,212 shares of the company's stock, valued at $529,287.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 4,500 shares of the firm's stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the sale, the chief financial officer now owns 182,903 shares in the company, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. Insiders sold 298,056 shares of company stock worth $64,899,898 in the last ninety days. Insiders own 23.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an "underperform" rating in a research note on Friday, April 12th. Canaccord Genuity Group increased their price objective on Coinbase Global from $240.00 to $280.00 and gave the stock a "buy" rating in a research report on Friday, May 3rd. The Goldman Sachs Group dropped their target price on Coinbase Global from $255.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, July 11th. Oppenheimer increased their price target on Coinbase Global from $276.00 to $282.00 and gave the stock an "outperform" rating in a report on Friday, May 3rd. Finally, Bank of America upgraded shares of Coinbase Global from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $110.00 to $217.00 in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $225.38.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded up $24.55 during trading on Friday, hitting $257.79. 12,501,856 shares of the stock were exchanged, compared to its average volume of 7,439,799. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The company has a market cap of $63.31 billion, a PE ratio of 51.46 and a beta of 3.40. The company has a fifty day moving average price of $231.04 and a two-hundred day moving average price of $208.99. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. On average, analysts forecast that Coinbase Global, Inc. will post 5 EPS for the current 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.