Lincoln National Corp Has $1.82 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Lincoln National Corp raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 194.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,456 shares of the cryptocurrency exchange’s stock after buying an additional 6,900 shares during the quarter. Lincoln National Corp’s holdings in Coinbase Global were worth $1,819,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of COIN. Xponance Inc. grew its position in Coinbase Global by 5.6% in the 3rd quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock worth $470,000 after purchasing an additional 333 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Coinbase Global by 3.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock valued at $282,000 after acquiring an additional 125 shares in the last quarter. Brown Advisory Inc. raised its holdings in Coinbase Global by 84.0% in the 3rd quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange’s stock valued at $687,000 after acquiring an additional 4,175 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Coinbase Global by 50.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,524 shares of the cryptocurrency exchange’s stock worth $340,000 after purchasing an additional 1,517 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of Coinbase Global by 4.7% during the third quarter. IFM Investors Pty Ltd now owns 29,970 shares of the cryptocurrency exchange’s stock valued at $2,250,000 after purchasing an additional 1,335 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

COIN traded down $0.88 during trading hours on Wednesday, reaching $213.46. The company’s stock had a trading volume of 2,304,338 shares, compared to its average volume of 13,109,391. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day moving average is $237.33 and its 200-day moving average is $169.13. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The firm has a market cap of $51.71 billion, a PE ratio of 42.79 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.46) EPS. On average, equities analysts forecast that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 361,542 shares of company stock worth $81,392,237. 33.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 3rd. 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. JPMorgan Chase & Co. lifted their price target on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Piper Sandler lifted their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Hold” and an average price target of $193.85.

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.