Trivest Advisors Ltd Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Trivest Advisors Ltd acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 220,980 shares of the cryptocurrency exchange's stock, valued at approximately $54,869,000. Coinbase Global makes up 2.5% of Trivest Advisors Ltd's investment portfolio, making the stock its 14th biggest position. Trivest Advisors Ltd owned about 0.09% of Coinbase Global at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global in the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the fourth quarter worth about $27,000. Atala Financial Inc bought a new stake in Coinbase Global in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its stake in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake 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 purchasing an additional 204 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Coinbase Global in a research note on Thursday. They issued a "neutral" rating and a $195.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Sanford C. Bernstein raised Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Rosenblatt Securities assumed coverage on Coinbase Global in a research note on Friday, March 7th. They issued a "buy" rating and a $305.00 price target on the stock. Finally, Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.72.

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Coinbase Global Stock Down 0.3 %

Shares of Coinbase Global stock traded down $0.52 during trading on Friday, hitting $189.86. 7,327,458 shares of the stock traded hands, compared to its average volume of 9,667,667. The stock has a market cap of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company has a fifty day moving average price of $247.26 and a two-hundred day moving average price of $241.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results 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%. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the company'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 transaction, the insider now owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by 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.