Wellington Management Group LLP Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Wellington Management Group LLP increased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 168.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,089 shares of the cryptocurrency exchange's stock after purchasing an additional 16,363 shares during the quarter. Wellington Management Group LLP's holdings in Coinbase Global were worth $4,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the third quarter worth about $25,000. Crewe Advisors LLC grew its holdings in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock worth $27,000 after purchasing an additional 104 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $32,000. Spirit of America Management Corp NY bought a new stake in Coinbase Global during the second quarter worth $33,000. Finally, Continuum Advisory LLC boosted its stake in shares of Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 400 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now directly owns 7,771 shares of the company's stock, valued at $1,588,703.24. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 270,720 shares of company stock valued at $79,787,248. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Down 1.2 %

Shares of Coinbase Global stock traded down $3.67 during trading on Tuesday, reaching $311.64. 7,423,888 shares of the company traded hands, compared to its average volume of 11,244,773. The firm has a market capitalization of $78.02 billion, a PE ratio of 53.18 and a beta of 3.57. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a 50 day moving average price of $262.68 and a 200-day moving average price of $226.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted ($0.01) EPS. Coinbase Global's revenue for the quarter was up 78.8% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. Oppenheimer increased their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the company an "outperform" rating in a research note on Monday, November 25th. Piper Sandler reiterated a "neutral" rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. JMP Securities restated a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Monness Crespi & Hardt assumed coverage on Coinbase Global in a research note on Monday, October 28th. They set a "buy" rating and a $245.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $276.22.

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.