Arizona State Retirement System Buys 798 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Arizona State Retirement System grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 55,259 shares of the cryptocurrency exchange’s stock after acquiring an additional 798 shares during the quarter. Arizona State Retirement System’s holdings in Coinbase Global were worth $13,721,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of COIN. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Coinbase Global by 365.5% during the 4th 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 last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the last quarter. Finally, Bogart Wealth LLC lifted its position in shares of Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 4.7 %

NASDAQ COIN opened at $222.45 on Thursday. The business has a 50 day simple moving average of $264.38 and a 200 day simple moving average of $241.24. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The stock has a market capitalization of $56.48 billion, a P/E ratio of 23.42 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) 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 return on equity of 20.64% and a net margin of 39.34%. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, 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. Insiders sold 219,455 shares of company stock valued at $60,955,968 over the last 90 days. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. JMP Securities increased their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Mizuho dropped their target price on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Bank of America dropped their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

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.