Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Xponance Inc.

Xponance Inc. raised its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,937 shares of the cryptocurrency exchange's stock after acquiring an additional 3,473 shares during the quarter. Xponance Inc.'s holdings in Coinbase Global were worth $8,675,000 as of its most recent SEC filing.

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

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Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares of the company's stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at $137,322.82. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded down $0.52 on Friday, hitting $189.86. The company's stock had a trading volume of 7,327,458 shares, compared to its average volume of 9,667,667. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a market capitalization of $48.20 billion, a price-to-earnings ratio of 19.99 and a beta of 3.66. 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 stock has a 50 day moving average of $247.26 and a 200-day moving average of $240.97.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COIN. 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 note on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th. Rosenblatt Securities began coverage on shares of Coinbase Global in a research note on Friday, March 7th. They issued a "buy" rating and a $305.00 price objective on the stock. Oppenheimer reissued an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Seven equities 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 company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $314.72.

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.