Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 36.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,920 shares of the cryptocurrency exchange’s stock after buying an additional 6,968 shares during the quarter. Russell Investments Group Ltd.’s holdings in Coinbase Global were worth $6,436,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its position in Coinbase Global by 5.6% in the 3rd quarter. Quantinno Capital Management LP now owns 3,700 shares of the cryptocurrency exchange’s stock valued at $659,000 after buying an additional 195 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after acquiring an additional 16,363 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Coinbase Global by 28.3% during the third quarter. Orion Portfolio Solutions LLC now owns 6,105 shares of the cryptocurrency exchange’s stock valued at $1,088,000 after acquiring an additional 1,347 shares during the period. MML Investors Services LLC increased its stake in shares of Coinbase Global by 47.3% during the third quarter. MML Investors Services LLC now owns 12,550 shares of the cryptocurrency exchange’s stock valued at $2,236,000 after acquiring an additional 4,032 shares during the period. Finally, M&T Bank Corp raised its holdings in Coinbase Global by 18.3% during the third quarter. M&T Bank Corp now owns 7,100 shares of the cryptocurrency exchange’s stock worth $1,265,000 after purchasing an additional 1,100 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price target on the stock. Barclays reduced their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Cantor Fitzgerald started coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 target price on the stock. Finally, 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 report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.74.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief financial officer now owns 124,470 shares of the company’s stock, valued at approximately $37,341,000. The trade was a 13.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,767 shares of company stock worth $48,326,134. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $175.50 on Monday. The business’s 50-day moving average is $210.02 and its 200-day moving average is $242.39. 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 company has a market capitalization of $44.56 billion, a price-to-earnings ratio of 18.47 and a beta of 3.65. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

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

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.