Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Resolute Advisors LLC

Resolute Advisors LLC lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 18.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,730 shares of the cryptocurrency exchange's stock after purchasing an additional 1,500 shares during the period. Coinbase Global comprises approximately 0.5% of Resolute Advisors LLC's holdings, making the stock its 17th biggest position. Resolute Advisors LLC's holdings in Coinbase Global were worth $2,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Proem Advisors LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $2,483,000. Pitcairn Co. bought a new stake in Coinbase Global during the 4th quarter worth approximately $299,000. Grant Private Wealth Management Inc bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $1,760,000. Arete Wealth Advisors LLC boosted its position in shares of Coinbase Global by 228.6% in the fourth quarter. Arete Wealth Advisors LLC now owns 6,247 shares of the cryptocurrency exchange's stock worth $1,556,000 after purchasing an additional 4,346 shares during the period. Finally, World Investment Advisors purchased a new stake in shares of Coinbase Global in the fourth quarter worth $224,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COIN shares. Piper Sandler upped their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Rosenblatt Securities reiterated a "buy" rating and set a $305.00 target price on shares of Coinbase Global in a research report on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective 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. Finally, The Goldman Sachs Group began coverage on shares of Coinbase Global in a report on Thursday, March 20th. They issued a "neutral" rating and a $195.00 target price on the stock. Seven investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $305.89.

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Coinbase Global Stock Down 4.4 %

NASDAQ COIN traded down $7.06 during midday trading on Monday, hitting $153.49. 7,600,661 shares of the company traded hands, compared to its average volume of 9,712,301. Coinbase Global, Inc. has a 52 week low of $142.76 and a 52 week high of $349.75. The company's 50-day simple moving average is $226.99 and its 200-day simple moving average is $243.17. The company has a market cap of $38.97 billion, a PE ratio of 16.00 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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 research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 83,313 shares of the company's stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 167,767 shares of company stock valued at $45,798,184 in the last 90 days. 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.