Pinebridge Investments L.P. Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Pinebridge Investments L.P. increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 130.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,280 shares of the cryptocurrency exchange’s stock after purchasing an additional 10,350 shares during the period. Pinebridge Investments L.P.’s holdings in Coinbase Global were worth $3,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fountainhead AM LLC grew its holdings in Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after purchasing an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after purchasing an additional 81 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after buying an additional 86 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of Coinbase Global by 2.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after purchasing an additional 90 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Coinbase Global by 34.5% during the fourth quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock worth $61,000 after acquiring an additional 90 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,257 shares of the firm’s 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 owns 66,122 shares in the company, valued at $18,223,223.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 400,433 shares of company stock worth $91,455,327. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

Shares of COIN opened at $244.16 on Friday. Coinbase Global, Inc. has a 1 year low of $50.10 and a 1 year high of $283.48. The stock has a market capitalization of $59.96 billion, a P/E ratio of 48.73 and a beta of 3.44. 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 fifty day moving average is $229.12 and its two-hundred day moving average is $190.27.

Coinbase Global (NASDAQ:COINGet Free Report) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. On average, sell-side analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COIN. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Barclays upped their target price on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $214.67.

Check Out Our Latest Research Report on Coinbase Global

Coinbase Global Profile

(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.

Further Reading

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

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