Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Increased by Vestcor Inc

Vestcor Inc boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 22.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,580 shares of the cryptocurrency exchange’s stock after buying an additional 1,950 shares during the quarter. Vestcor Inc’s holdings in Coinbase Global were worth $2,627,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $25,000. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global in the 4th quarter worth about $50,000. Finally, Bogart Wealth LLC raised its holdings in 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 period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $183.12 on Friday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The business has a 50-day simple moving average of $255.08 and a 200 day simple moving average of $240.49. 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 market capitalization of $46.49 billion, a price-to-earnings ratio of 19.28 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 over the last quarter. 23.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COIN shares. Mizuho dropped their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler boosted their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Finally, JMP Securities raised their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.89.

About Coinbase Global

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.