Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Northern Trust Corp

Northern Trust Corp decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COINFree Report) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 892,369 shares of the cryptocurrency exchange’s stock after selling 4,797 shares during the period. Northern Trust Corp owned approximately 0.37% of Coinbase Global worth $155,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after buying an additional 176,525 shares during the last quarter. Morgan Stanley grew its holdings in Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the last quarter. Norges Bank acquired a new stake in Coinbase Global during the 4th quarter valued at $202,936,000. a16z Perennial Management L.P. acquired a new stake in Coinbase Global during the 4th quarter valued at $147,646,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Coinbase Global by 142.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 2.3 %

NASDAQ COIN opened at $249.81 on Tuesday. Coinbase Global, Inc. has a twelve month low of $50.10 and a twelve month high of $283.48. 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 cap of $61.35 billion, a price-to-earnings ratio of 49.86 and a beta of 3.44. The firm’s 50 day moving average price is $229.07 and its two-hundred day moving average price is $192.43.

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

Insider Activity

In other news, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the transaction, the chief accounting officer now directly owns 2,212 shares in the company, valued at approximately $529,287.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $245.00, for a total value of $367,500.00. Following the completion of the sale, the chief operating officer now owns 226,051 shares of the company’s stock, valued at approximately $55,382,495. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 15,580 shares of Coinbase Global stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the completion of the sale, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at approximately $529,287.36. The disclosure for this sale can be found here. Insiders have sold a total of 400,433 shares of company stock worth $91,455,327 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on COIN shares. Sanford C. Bernstein increased their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Wedbush increased their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Wednesday, June 5th. Finally, Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $214.67.

Check Out Our Latest Report on Coinbase Global

Coinbase Global Company 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.

See Also

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

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.