Senator Investment Group LP Sells 2,332 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Senator Investment Group LP lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,668 shares of the cryptocurrency exchange's stock after selling 2,332 shares during the quarter. Senator Investment Group LP's holdings in Coinbase Global were worth $14,319,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC boosted its position in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after purchasing an additional 149 shares during the period. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling

In other Coinbase Global news, 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 sale, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at $88,646.78. This represents a 96.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,611 shares of company stock valued at $34,376,005. Company insiders own 23.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COIN. Keefe, Bruyette & Woods boosted their price target 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. Needham & Company LLC restated a "buy" rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Benchmark initiated coverage on Coinbase Global in a report on Wednesday. They set a "buy" rating and a $252.00 price target on the stock. Piper Sandler increased their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of "Moderate Buy" and a consensus target price of $295.65.

Coinbase Global Trading Up 4.7 %

Shares of Coinbase Global stock traded up $9.07 during trading hours on Thursday, hitting $203.87. The company's stock had a trading volume of 6,791,059 shares, compared to its average volume of 9,680,311. The company has a market capitalization of $51.76 billion, a PE ratio of 21.46 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. The stock has a 50 day moving average of $194.42 and a 200 day moving average of $241.82. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75.

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

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.