Royal London Asset Management Ltd. Buys 2,869 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Royal London Asset Management Ltd. grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,336 shares of the cryptocurrency exchange's stock after buying an additional 2,869 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Coinbase Global were worth $20,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global in the 3rd quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its position 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 buying an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock worth $45,000 after buying an additional 204 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company's stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the transaction, the director now directly owns 10,417 shares of the company's stock, valued at $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,034 shares of company stock valued at $57,835,408 over the last ninety days. 23.43% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COIN shares. JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Piper Sandler increased their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Finally, Bank of America dropped their price target 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. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coinbase Global presently has a consensus rating of "Moderate Buy" and an average target price of $314.72.

Coinbase Global Stock Performance

NASDAQ COIN traded up $1.17 on Tuesday, reaching $204.21. 3,432,319 shares of the stock were exchanged, compared to its average volume of 9,663,730. 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 one year low of $146.12 and a one year high of $349.75. The firm has a market capitalization of $51.84 billion, a PE ratio of 21.51 and a beta of 3.66. The company's 50-day simple moving average is $246.30 and its two-hundred day simple moving average is $241.82.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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 net margin of 39.34% and a return on equity of 20.64%. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.