Cerity Partners LLC Purchases 98 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Cerity Partners LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,204 shares of the cryptocurrency exchange’s stock after purchasing an additional 98 shares during the quarter. Cerity Partners LLC’s holdings in Coinbase Global were worth $3,379,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares during the period. Orion Portfolio Solutions LLC grew its stake in Coinbase Global by 28.3% during the third quarter. Orion Portfolio Solutions LLC now owns 6,105 shares of the cryptocurrency exchange’s stock worth $1,088,000 after purchasing an additional 1,347 shares during the period. MML Investors Services LLC increased its holdings in Coinbase Global by 47.3% in the third quarter. MML Investors Services LLC now owns 12,550 shares of the cryptocurrency exchange’s stock worth $2,236,000 after purchasing an additional 4,032 shares in the last quarter. M&T Bank Corp lifted its stake in Coinbase Global by 18.3% in the third quarter. M&T Bank Corp now owns 7,100 shares of the cryptocurrency exchange’s stock valued at $1,265,000 after buying an additional 1,100 shares during the period. Finally, TD Private Client Wealth LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth approximately $77,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $88,646.78. This represents a 96.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 124,470 shares in the company, valued at $37,341,000. This trade represents a 13.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,767 shares of company stock worth $48,326,134. 23.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $305.00 price objective on shares of Coinbase Global in a research report on Wednesday, March 26th. Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Finally, Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $298.74.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $176.58 on Tuesday. The company has a market capitalization of $44.83 billion, a PE ratio of 18.59 and a beta of 3.65. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $208.05 and its 200-day moving average price is $242.29. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month 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 the consensus estimate 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.

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.