Vanguard Group Inc. Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Vanguard Group Inc. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,419,097 shares of the cryptocurrency exchange's stock after purchasing an additional 128,802 shares during the quarter. Vanguard Group Inc. owned about 7.36% of Coinbase Global worth $4,573,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock worth $609,789,000 after acquiring an additional 314,388 shares during the period. Clear Street Derivatives LLC acquired a new position in Coinbase Global in the 3rd quarter valued at $409,919,000. Charles Schwab Investment Management Inc. increased its position in Coinbase Global by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange's stock worth $232,168,000 after buying an additional 15,954 shares during the period. Proficio Capital Partners LLC increased its position in Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after acquiring an additional 417,036 shares during the period. Finally, Ribbit Management Company LLC boosted its stake in shares of Coinbase Global by 4.7% in the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange's stock valued at $70,217,000 after buying an additional 17,650 shares during the period. Institutional investors own 68.84% of the company's stock.

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Coinbase Global Price Performance

COIN stock traded up $1.19 during midday trading on Tuesday, reaching $204.23. The company had a trading volume of 7,851,783 shares, compared to its average volume of 9,646,550. The firm has a 50-day moving average price of $246.30 and a 200-day moving average price of $241.82. 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 1 year low of $146.12 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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 return on equity of 20.64% and a net margin of 39.34%. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a "buy" rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Rosenblatt Securities began coverage on Coinbase Global in a research note on Friday, March 7th. They issued a "buy" rating and a $305.00 price objective for the company. Piper Sandler lifted their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $314.72.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,978 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,230,728.38. This trade represents a 49.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,034 shares of company stock worth $57,835,408 in the last 90 days. 23.43% of the stock is owned by company insiders.

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.