Trivest Advisors Ltd Buys Shares of 220,980 Coinbase Global, Inc. (NASDAQ:COIN)

Trivest Advisors Ltd acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 220,980 shares of the cryptocurrency exchange’s stock, valued at approximately $54,869,000. Coinbase Global makes up approximately 2.5% of Trivest Advisors Ltd’s investment portfolio, making the stock its 14th biggest holding. Trivest Advisors Ltd owned approximately 0.09% of Coinbase Global at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COIN. Principal Financial Group Inc. increased its position in shares of Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after buying an additional 36,843 shares during the period. Los Angeles Capital Management LLC grew its holdings in Coinbase Global by 8.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock worth $265,000 after buying an additional 110 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coinbase Global by 6.7% during the third quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock valued at $11,552,000 after purchasing an additional 4,076 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Coinbase Global by 5.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange’s stock worth $1,240,000 after buying an additional 367 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $181.14 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $45.99 billion, a PE ratio of 19.07 and a beta of 3.66. The firm has a fifty day simple moving average of $251.44 and a two-hundred day simple moving average of $241.13. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Bank of America dropped their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Rosenblatt Securities began coverage on Coinbase Global in a report on Friday, March 7th. They set a “buy” rating and a $305.00 price objective on the stock. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Finally, The Goldman Sachs Group dropped their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. This represents a 52.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,455 shares of company stock worth $60,955,968. Insiders own 23.43% of the company’s stock.

Coinbase Global 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.