American Century Companies Inc. Has $95.36 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

American Century Companies Inc. cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 384,053 shares of the cryptocurrency exchange’s stock after selling 3,226 shares during the quarter. American Century Companies Inc. owned approximately 0.15% of Coinbase Global worth $95,360,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the third quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 6.9 %

NASDAQ COIN opened at $203.04 on Tuesday. 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 business has a fifty day simple moving average of $246.30 and a 200 day simple moving average of $241.82. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The firm has a market capitalization of $51.55 billion, a P/E ratio of 21.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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%. On average, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Rosenblatt Securities assumed coverage on Coinbase Global in a report on Friday, March 7th. They issued a “buy” rating and a $305.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Canaccord Genuity Group increased their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.72.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,034 shares of company stock valued at $57,835,408 in the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

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.