Alberta Investment Management Corp Purchases 1,200 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Alberta Investment Management Corp boosted its position in Coinbase Global, Inc. (NASDAQ:COINFree Report) by 34.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,700 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,200 shares during the period. Alberta Investment Management Corp’s holdings in Coinbase Global were worth $817,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Coinbase Global by 5.3% during the third quarter. Principal Financial Group Inc. now owns 17,483 shares of the cryptocurrency exchange’s stock worth $1,313,000 after acquiring an additional 884 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Coinbase Global by 256.8% in the third quarter. Victory Capital Management Inc. now owns 66,446 shares of the cryptocurrency exchange’s stock worth $4,989,000 after purchasing an additional 47,825 shares during the last quarter. Metis Global Partners LLC purchased a new position in shares of Coinbase Global during the third quarter valued at approximately $203,000. Amalgamated Bank grew its holdings in Coinbase Global by 2.6% during the third quarter. Amalgamated Bank now owns 16,207 shares of the cryptocurrency exchange’s stock worth $1,217,000 after buying an additional 407 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its position in Coinbase Global by 96.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,110 shares of the cryptocurrency exchange’s stock valued at $234,000 after buying an additional 1,525 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $231.39 on Tuesday. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The stock’s 50-day simple moving average is $230.26 and its 200 day simple moving average is $187.38. 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 stock has a market capitalization of $56.82 billion, a price-to-earnings ratio of 46.19 and a beta of 3.44.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Research analysts forecast that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on COIN. Canaccord Genuity Group upped their target price on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Needham & Company LLC decreased their price target on Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $214.67.

Read Our Latest Stock Report on Coinbase Global

Insider Activity

In related news, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the sale, the chief accounting officer now owns 2,212 shares in the company, valued at $529,287.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Paul Grewal sold 17,444 shares of Coinbase Global stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $239.07, for a total transaction of $4,170,337.08. Following the completion of the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $17,020,588.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now directly owns 2,212 shares in the company, valued at approximately $529,287.36. The disclosure for this sale can be found here. Insiders sold 400,433 shares of company stock worth $91,455,327 in the last three months. Corporate insiders own 23.43% of the company’s stock.

About Coinbase Global

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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