10,000 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Proem Advisors LLC

Proem Advisors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,000 shares of the cryptocurrency exchange's stock, valued at approximately $2,483,000. Coinbase Global makes up approximately 0.7% of Proem Advisors LLC's investment portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Coinbase Global by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange's stock worth $1,854,000 after buying an additional 186 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Coinbase Global by 481.7% in the third quarter. Benjamin Edwards Inc. now owns 11,687 shares of the cryptocurrency exchange's stock valued at $2,082,000 after buying an additional 9,678 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Coinbase Global by 36.8% in the third quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange's stock valued at $2,767,000 after buying an additional 4,177 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Coinbase Global in the third quarter valued at $450,000. Finally, Investment Management Corp of Ontario grew its position in shares of Coinbase Global by 53.3% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,331 shares of the cryptocurrency exchange's stock valued at $1,128,000 after acquiring an additional 2,200 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

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Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. The trade was a 95.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the transaction, the director now directly owns 10,417 shares of the company's stock, valued at $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,767 shares of company stock valued at $45,798,184. Corporate insiders own 23.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on COIN shares. Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Rosenblatt Securities restated a "buy" rating and set a $305.00 price objective on shares of Coinbase Global in a research report on Wednesday, March 26th. The Goldman Sachs Group began coverage on Coinbase Global in a research note on Thursday, March 20th. They set a "neutral" rating and a $195.00 target price on the stock. Barclays dropped their target price on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $305.89.

Coinbase Global Stock Down 4.4 %

Shares of COIN traded down $7.06 on Monday, reaching $153.49. The company's stock had a trading volume of 7,600,661 shares, compared to its average volume of 9,712,301. The stock has a market capitalization of $38.97 billion, a PE ratio of 16.00 and a beta of 3.65. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $142.76 and a twelve month high of $349.75. The firm has a fifty day moving average of $226.99 and a 200-day moving average of $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, beating 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%. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

About Coinbase Global

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.