Pilgrim Partners Asia Pte Ltd Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Pilgrim Partners Asia Pte Ltd acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,030 shares of the cryptocurrency exchange's stock, valued at approximately $2,490,000. Coinbase Global accounts for about 2.2% of Pilgrim Partners Asia Pte Ltd's investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in COIN. Wellington Management Group LLP raised its position in shares of Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock worth $4,648,000 after purchasing an additional 16,363 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in Coinbase Global during the fourth quarter worth $252,000. Virtu Financial LLC acquired a new position in shares of Coinbase Global in the third quarter worth $3,866,000. Savant Capital LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $591,000. Finally, XTX Topco Ltd boosted its stake in shares of Coinbase Global by 818.2% during the third quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange's stock valued at $2,346,000 after acquiring an additional 11,733 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now directly owns 124,470 shares in the company, valued at $37,341,000. This trade represents a 13.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $17,656,524.09. This 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 167,767 shares of company stock valued at $45,798,184. Corporate insiders own 23.43% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Piper Sandler boosted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Oppenheimer restated an "outperform" rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $305.00 target price on shares of Coinbase Global in a research note on Wednesday, March 26th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $305.89.

Coinbase Global Stock Down 2.0 %

Shares of COIN stock traded down $3.27 on Monday, hitting $157.28. The stock had a trading volume of 13,201,587 shares, compared to its average volume of 9,733,614. Coinbase Global, Inc. has a 52-week low of $142.76 and a 52-week high of $349.75. The firm has a market capitalization of $39.93 billion, a price-to-earnings ratio of 16.56 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. The stock's 50 day moving average is $226.99 and its 200-day moving average is $243.17.

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 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, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share 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.