Cerity Partners LLC Buys 1,875 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Cerity Partners LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,092 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,875 shares during the quarter. Cerity Partners LLC’s holdings in Coinbase Global were worth $2,103,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Coinbase Global by 19.8% during the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock valued at $824,587,000 after acquiring an additional 2,110,196 shares during the period. Norges Bank bought a new stake in Coinbase Global during the fourth quarter valued at about $50,254,000. Morgan Stanley raised its holdings in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after acquiring an additional 511,397 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Coinbase Global by 142.3% during 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. Finally, Northern Trust Corp raised its holdings in Coinbase Global by 320.1% during the second quarter. Northern Trust Corp now owns 563,011 shares of the cryptocurrency exchange’s stock valued at $26,472,000 after acquiring an additional 428,994 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 3.2 %

Shares of NASDAQ COIN opened at $211.01 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $51.12 billion, a P/E ratio of 781.52 and a beta of 3.41. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a 50-day simple moving average of $224.69 and a two-hundred day simple moving average of $155.57.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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 business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.46) earnings per share. Research analysts anticipate that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, COO Emilie Choi sold 700 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.29, for a total value of $91,203.00. Following the completion of the sale, the chief operating officer now owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Emilie Choi sold 700 shares of Coinbase Global stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the sale, the chief operating officer now owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $121.29, for a total transaction of $9,888,773.70. Following the sale, the director now directly owns 120,214 shares of the company’s stock, valued at approximately $14,580,756.06. The disclosure for this sale can be found here. Insiders sold a total of 607,358 shares of company stock valued at $106,945,156 over the last 90 days. Insiders own 33.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COIN shares. Citigroup raised their price target on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Canaccord Genuity Group restated a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research report on Thursday, March 28th. JPMorgan Chase & Co. raised their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Piper Sandler raised their price objective on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Needham & Company LLC raised their price objective on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $165.43.

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.