Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,440 shares of the cryptocurrency exchange’s stock after purchasing an additional 259 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Coinbase Global were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barrett & Company Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $26,000. Creekmur Asset Management LLC acquired a new position in Coinbase Global in the 4th quarter valued at $27,000. Mather Group LLC. acquired a new position in Coinbase Global in the 1st quarter valued at $32,000. AlphaMark Advisors LLC acquired a new position in Coinbase Global in the 4th quarter valued at $33,000. Finally, Signature Resources Capital Management LLC acquired a new position in Coinbase Global in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 4.4 %

NASDAQ:COIN traded down $9.84 on Friday, reaching $215.10. The stock had a trading volume of 3,998,776 shares, compared to its average volume of 11,665,368. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The firm’s fifty day moving average is $227.71 and its two-hundred day moving average is $203.62. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $52.82 billion, a price-to-earnings ratio of 42.29 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Equities analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Analysts Set New Price Targets

COIN has been the topic of several recent research reports. Oppenheimer boosted their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. HC Wainwright restated a “buy” rating and set a $315.00 target price on shares of Coinbase Global in a research report on Tuesday, June 18th. Finally, Sanford C. Bernstein boosted their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $215.50.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on 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 transaction, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the sale, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $14,644,039.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,516 shares of company stock valued at $73,051,856. 23.43% of the stock is currently owned by corporate insiders.

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.