Wellington Management Group LLP Has $2.23 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Wellington Management Group LLP trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 74.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,845 shares of the cryptocurrency exchange’s stock after selling 38,080 shares during the period. Wellington Management Group LLP’s holdings in Coinbase Global were worth $2,234,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Coinbase Global by 55.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock valued at $3,579,000 after purchasing an additional 16,914 shares during the period. Treasurer of the State of North Carolina lifted its stake in Coinbase Global by 3.2% in the 3rd quarter. Treasurer of the State of North Carolina now owns 75,160 shares of the cryptocurrency exchange’s stock valued at $5,643,000 after acquiring an additional 2,320 shares in the last quarter. Bank of Nova Scotia acquired a new position in Coinbase Global during the 3rd quarter worth approximately $450,000. Legal & General Group Plc grew its stake in shares of Coinbase Global by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 518,814 shares of the cryptocurrency exchange’s stock worth $38,953,000 after acquiring an additional 11,730 shares in the last quarter. Finally, Scotia Capital Inc. acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $218,000. 68.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at $14,644,039.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jennifer N. Jones sold 15,580 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the transaction, the chief accounting officer now owns 2,212 shares in the company, valued at approximately $529,287.36. The disclosure for this sale can be found here. Insiders have sold 360,021 shares of company stock worth $80,655,822 in the last 90 days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 0.8 %

Shares of COIN opened at $222.23 on Monday. The firm’s 50-day simple moving average is $227.70 and its 200 day simple moving average is $202.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $54.57 billion, a P/E ratio of 44.36 and a beta of 3.44. Coinbase Global, Inc. has a 52 week low of $68.15 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. On average, analysts forecast that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COIN. Mizuho raised their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Bank of America raised Coinbase Global from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $110.00 to $217.00 in a research report on Friday, May 17th. Piper Sandler increased their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Sanford C. Bernstein raised their price target on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Finally, Canaccord Genuity Group upped their price objective on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $215.50.

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.