Zacks Investment Management Raises Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Zacks Investment Management grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 26.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,550 shares of the cryptocurrency exchange's stock after buying an additional 3,039 shares during the period. Zacks Investment Management's holdings in Coinbase Global were worth $3,613,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $3,866,000. Wilmington Savings Fund Society FSB purchased a new position in Coinbase Global in the 3rd quarter valued at $94,000. Principal Financial Group Inc. raised its position in Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after buying an additional 36,843 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Coinbase Global by 106.9% in the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock worth $74,000 after acquiring an additional 154 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Coinbase Global by 25.9% in the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock valued at $258,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $178.79, for a total transaction of $2,681,850.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $94,043.54. This trade represents a 96.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at $22,973,200. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 166,805 shares of company stock valued at $41,907,752 over the last quarter. Company insiders own 23.43% of the company's stock.

Analyst Ratings Changes

COIN has been the topic of a number of analyst reports. Rosenblatt Securities lowered their price objective on Coinbase Global from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a report on Monday, February 10th. Cantor Fitzgerald began coverage on Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price for the company. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $297.95.

Coinbase Global Price Performance

Coinbase Global stock opened at $175.03 on Friday. The firm's 50-day moving average is $202.01 and its two-hundred day moving average is $241.32. 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 market capitalization of $44.44 billion, a P/E ratio of 18.42 and a beta of 3.65. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. Equities analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.

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