1,900 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Ionic Capital Management LLC

Ionic Capital Management LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,900 shares of the cryptocurrency exchange’s stock, valued at approximately $472,000.

A number of other large investors have also recently bought and sold shares of COIN. Norges Bank bought a new stake in shares of Coinbase Global in the 4th quarter worth about $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global during the fourth quarter worth approximately $372,450,000. Proficio Capital Partners LLC raised its stake in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after acquiring an additional 417,036 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after acquiring an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Coinbase Global by 614.8% in the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after acquiring an additional 295,313 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. Monness Crespi & Hardt downgraded Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group began coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Piper Sandler boosted their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average target price of $268.65.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $88,646.78. This trade represents a 96.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,742 shares of company stock valued at $32,639,759. 17.65% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $199.47 on Friday. The firm’s 50 day simple moving average is $187.38 and its 200 day simple moving average is $243.06. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a market capitalization of $50.64 billion, a price-to-earnings ratio of 21.00 and a beta of 3.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the business posted $2.53 earnings per share. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Company 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.