Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1,159.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 328,684 shares of the cryptocurrency exchange’s stock after acquiring an additional 302,595 shares during the quarter. Wellington Management Group LLP’s holdings in Coinbase Global were worth $81,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in Coinbase Global during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Coinbase Global in the fourth quarter valued at $50,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 149 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Rosenblatt Securities reissued a “buy” rating and issued a $305.00 price objective on shares of Coinbase Global in a report on Wednesday, March 26th. Canaccord Genuity Group lifted their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $314.72.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the sale, the director now owns 10,417 shares in the company, valued at $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $104,226.90. This represents a 95.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,609 shares of company stock worth $52,238,258 in the last quarter. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Down 6.0 %

COIN stock opened at $160.55 on Friday. The firm has a market cap of $40.76 billion, a PE ratio of 16.90 and a beta of 3.66. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month 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. The firm has a 50 day simple moving average of $226.99 and a 200 day simple moving average of $242.05.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS 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%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.