1,734 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by TCG Advisory Services LLC

TCG Advisory Services LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,734 shares of the cryptocurrency exchange’s stock, valued at approximately $302,000.

A number of other institutional investors have also bought and sold shares of COIN. a16z Perennial Management L.P. bought a new position in Coinbase Global in the 4th quarter worth approximately $147,646,000. Morgan Stanley raised its holdings in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after acquiring an additional 430,546 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Coinbase Global during the 4th quarter valued at approximately $34,422,000. Finally, Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after purchasing an additional 176,525 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.4 %

COIN traded up $7.55 during trading on Monday, reaching $230.80. The company had a trading volume of 4,166,212 shares, compared to its average volume of 13,220,293. The stock has a market cap of $55.92 billion, a P/E ratio of 44.56 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The business has a 50 day simple moving average of $236.37 and a 200-day simple moving average of $167.06.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. Coinbase Global’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter last year, the company earned ($2.46) EPS. On average, equities analysts anticipate that Coinbase Global, Inc. will post 2.71 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock valued at $86,053,862 over the last quarter. Company insiders own 33.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Citigroup upped their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Needham & Company LLC dropped their target price on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Sanford C. Bernstein lifted their price target on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $192.60.

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.