Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1,159.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,684 shares of the cryptocurrency exchange’s stock after acquiring an additional 302,595 shares during the quarter. Wellington Management Group LLP owned about 0.13% of Coinbase Global worth $81,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after acquiring an additional 128,802 shares during the last quarter. Geode Capital Management LLC boosted its stake in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Norges Bank purchased a new position in shares of Coinbase Global during the fourth quarter worth about $536,484,000. Charles Schwab Investment Management Inc. grew its stake in shares of Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after purchasing an additional 15,954 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 6.0 %

Shares of NASDAQ:COIN opened at $160.55 on Friday. The company has a market capitalization of $40.76 billion, a price-to-earnings ratio of 16.90 and a beta of 3.66. The company has a 50 day moving average of $226.99 and a two-hundred day moving average of $242.05. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

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%. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,936,968.98. This represents a 68.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,609 shares of company stock worth $52,238,258 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Rosenblatt Securities restated a “buy” rating and set a $305.00 price objective on shares of Coinbase Global in a research report on Wednesday, March 26th. Barclays boosted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

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.