Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 71,245 shares of the cryptocurrency exchange’s stock after purchasing an additional 556 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Coinbase Global were worth $17,690,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Creative Planning increased its position in Coinbase Global by 42.5% in the 3rd quarter. Creative Planning now owns 71,545 shares of the cryptocurrency exchange’s stock valued at $12,747,000 after acquiring an additional 21,335 shares during the period. Global Retirement Partners LLC raised its stake in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Coinbase Global during the third quarter worth $55,000. Foundations Investment Advisors LLC grew its position in Coinbase Global by 19.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,569 shares of the cryptocurrency exchange’s stock valued at $814,000 after buying an additional 740 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Coinbase Global by 22.7% in the 3rd quarter. Signaturefd LLC now owns 3,014 shares of the cryptocurrency exchange’s stock valued at $537,000 after buying an additional 557 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on COIN. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Oppenheimer dropped their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Monness Crespi & Hardt upped their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $301.17.

Coinbase Global Stock Down 8.0 %

Shares of NASDAQ COIN opened at $274.31 on Tuesday. The firm’s 50-day moving average is $280.25 and its two-hundred day moving average is $238.79. The company has a market capitalization of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. 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 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Equities analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 26,649 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,209,894.38. The trade was a 71.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $144,786.76. The trade was a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,529 shares of company stock valued at $95,595,712 over the last quarter. Insiders own 23.43% of the company’s stock.

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.