Treasurer of the State of North Carolina Buys 2,850 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Treasurer of the State of North Carolina lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,106 shares of the cryptocurrency exchange's stock after purchasing an additional 2,850 shares during the quarter. Treasurer of the State of North Carolina's holdings in Coinbase Global were worth $22,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after acquiring an additional 106 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth $50,000. Finally, Bogart Wealth LLC increased its holdings in shares of Coinbase Global by 252.5% during the fourth 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 and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Down 0.6 %

Coinbase Global stock traded down $1.00 during mid-day trading on Tuesday, hitting $175.58. The company's stock had a trading volume of 4,490,209 shares, compared to its average volume of 9,746,966. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The company has a market cap of $44.58 billion, a PE ratio of 18.48 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 firm's 50 day moving average is $208.05 and its 200 day moving average is $242.29.

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Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results 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%. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of a number of recent analyst reports. Cantor Fitzgerald began coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price for the company. Rosenblatt Securities reiterated a "buy" rating and set a $305.00 price objective on shares of Coinbase Global in a research note on Wednesday, March 26th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. HC Wainwright reaffirmed a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Finally, The Goldman Sachs Group started coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $298.74.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction 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 completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $88,646.78. This trade represents a 96.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,767 shares of company stock worth $48,326,134 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

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.