Lincoln National Corp Grows Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Lincoln National Corp grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 194.0% in the fourth quarter, Holdings Channel reports. The firm owned 10,456 shares of the cryptocurrency exchange’s stock after acquiring an additional 6,900 shares during the period. Lincoln National Corp’s holdings in Coinbase Global were worth $1,819,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COIN. Xponance Inc. raised its stake in shares of Coinbase Global by 5.6% during the third quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after acquiring an additional 333 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock valued at $282,000 after acquiring an additional 125 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Coinbase Global by 84.0% during the third quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange’s stock valued at $687,000 after acquiring an additional 4,175 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Coinbase Global by 50.4% during the third quarter. Verdence Capital Advisors LLC now owns 4,524 shares of the cryptocurrency exchange’s stock valued at $340,000 after acquiring an additional 1,517 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Coinbase Global by 4.7% in the third quarter. IFM Investors Pty Ltd now owns 29,970 shares of the cryptocurrency exchange’s stock worth $2,250,000 after buying an additional 1,335 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Needham & Company LLC cut their price target on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Sanford C. Bernstein lifted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Piper Sandler upped their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Finally, Citigroup upped their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $193.85.

Insider Activity

In related news, insider Paul Grewal sold 42,113 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now owns 4,833 shares in the company, valued at $1,256,580. The disclosure for this sale can be found here. Insiders sold a total of 361,542 shares of company stock valued at $81,392,237 in the last 90 days. Company insiders own 33.16% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN traded down $0.88 during trading hours on Wednesday, hitting $213.46. 2,304,338 shares of the company’s stock traded hands, compared to its average volume of 13,109,391. The firm’s 50-day moving average is $237.33 and its 200-day moving average is $169.13. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $51.71 billion, a PE ratio of 42.79 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the prior year, the company posted ($2.46) EPS. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 2.71 EPS for the current fiscal year.

About Coinbase Global

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.