Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,093 shares of the cryptocurrency exchange’s stock after purchasing an additional 226 shares during the period. Parallel Advisors LLC’s holdings in Coinbase Global were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of COIN. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth about $409,919,000. Proficio Capital Partners LLC raised its holdings in Coinbase Global by 30,664.4% in the 4th 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. Geode Capital Management LLC raised its holdings in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Coinbase Global in the 4th quarter valued at about $56,142,000. Finally, Azora Capital LP raised its holdings in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Bank of America cut their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Barclays raised their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Canaccord Genuity Group raised their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $314.72.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, 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 value of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 in the last 90 days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $190.38 on Friday. 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 stock has a market capitalization of $48.33 billion, a P/E ratio of 20.04 and a beta of 3.66. The company has a 50 day moving average price of $248.64 and a 200 day moving average price of $240.42. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted 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 net margin of 39.34% and a return on equity of 20.64%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.