856 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Financial Engines Advisors L.L.C.

Financial Engines Advisors L.L.C. acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 856 shares of the cryptocurrency exchange’s stock, valued at approximately $213,000.

Several other hedge funds have also recently modified their holdings of COIN. Wellington Management Group LLP increased its position in shares of Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after acquiring an additional 16,363 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $252,000. Virtu Financial LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $3,866,000. Savant Capital LLC bought a new position in Coinbase Global during the fourth quarter valued at about $591,000. Finally, XTX Topco Ltd grew its position in Coinbase Global by 818.2% during the third quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange’s stock valued at $2,346,000 after buying an additional 11,733 shares during the period. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Canaccord Genuity Group increased their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler boosted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.72.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,609 shares of company stock worth $61,331,908 over the last three months. 23.43% of the stock is owned by insiders.

Coinbase Global Price Performance

NASDAQ:COIN opened at $173.93 on Friday. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The stock has a fifty day moving average of $239.36 and a 200 day moving average of $241.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.