Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 5,182.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,198 shares of the cryptocurrency exchange's stock after acquiring an additional 65,926 shares during the period. Teacher Retirement System of Texas' holdings in Coinbase Global were worth $16,685,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $409,919,000. Proficio Capital Partners LLC lifted its stake in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock valued at $103,888,000 after buying an additional 417,036 shares during the last quarter. Geode Capital Management LLC lifted its stake in Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock valued at $609,789,000 after buying an additional 314,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Coinbase Global in the fourth quarter valued at $56,142,000. Finally, Trivest Advisors Ltd bought a new position in shares of Coinbase Global during the fourth quarter worth about $54,869,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COIN. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a report on Monday, February 10th. HC Wainwright reaffirmed a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Rosenblatt Securities assumed coverage on Coinbase Global in a research report on Friday, March 7th. They issued a "buy" rating and a $305.00 target price on the stock. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Bank of America lowered their price target on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of "Moderate Buy" and a consensus price target of $314.72.

Remove Ads

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at $3,114,162.15. This represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,034 shares of company stock worth $57,835,408 in the last quarter. 23.43% of the stock is owned by company insiders.

Coinbase Global Price Performance

NASDAQ:COIN traded up $1.19 during trading hours on Tuesday, reaching $204.23. 7,851,783 shares of the company's stock were exchanged, compared to its average volume of 9,638,225. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $51.85 billion, a P/E ratio of 21.50 and a beta of 3.66. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The business's 50-day simple moving average is $245.27 and its two-hundred day simple moving average is $242.22.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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%. Sell-side 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.