Teacher Retirement System of Texas Buys 65,926 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Teacher Retirement System of Texas lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 5,182.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,198 shares of the cryptocurrency exchange’s stock after acquiring an additional 65,926 shares during the quarter. Teacher Retirement System of Texas’ holdings in Coinbase Global were worth $16,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in COIN. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global in the third quarter worth approximately $409,919,000. Proficio Capital Partners LLC grew 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 valued at $103,888,000 after buying an additional 417,036 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $609,789,000 after buying an additional 314,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Coinbase Global during the fourth quarter valued at approximately $56,142,000. Finally, Trivest Advisors Ltd bought a new stake in Coinbase Global during the fourth quarter valued at approximately $54,869,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Down 0.3 %

Shares of COIN opened at $189.86 on Friday. The company’s fifty day moving average is $247.26 and its 200 day moving average is $240.47. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The stock has a market capitalization of $48.20 billion, a PE 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 (NASDAQ:COIN) last announced its quarterly 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 net margin of 39.34% and a return on equity of 20.64%. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. This trade represents a 3.80 % 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 worth $60,955,968. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. HC Wainwright restated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Barclays lifted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group started coverage on shares of Coinbase Global in a report on Thursday. They set a “neutral” rating and a $195.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.72.

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.