Duality Advisers LP Invests $3.25 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Duality Advisers LP bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COINFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,669 shares of the cryptocurrency exchange’s stock, valued at approximately $3,247,000.

Several other large investors have also recently added to or reduced their stakes in COIN. DnB Asset Management AS raised its holdings in Coinbase Global by 35.8% during the third quarter. DnB Asset Management AS now owns 28,289 shares of the cryptocurrency exchange’s stock worth $2,124,000 after purchasing an additional 7,457 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Coinbase Global during the third quarter worth about $248,000. Impact Partnership Wealth LLC increased its holdings in Coinbase Global by 23.4% in the third quarter. Impact Partnership Wealth LLC now owns 1,532 shares of the cryptocurrency exchange’s stock valued at $115,000 after buying an additional 291 shares in the last quarter. Ballentine Partners LLC purchased a new position in Coinbase Global in the third quarter valued at about $201,000. Finally, Walter & Keenan Wealth Management LLC IN ADV increased its holdings in Coinbase Global by 7.0% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 15,891 shares of the cryptocurrency exchange’s stock valued at $1,193,000 after buying an additional 1,043 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COIN. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Bank of America increased their target price on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Oppenheimer increased their target price on shares of Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $165.43.

Get Our Latest Research Report on COIN

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total transaction of $3,505,156.20. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $997,621.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The disclosure for this sale can be found here. Insiders sold 607,358 shares of company stock valued at $106,945,156 in the last ninety days. Company insiders own 33.16% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN traded up $6.84 during midday trading on Monday, hitting $217.85. The company’s stock had a trading volume of 4,626,178 shares, compared to its average volume of 13,797,849. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The firm’s fifty day moving average price is $224.69 and its 200-day moving average price is $156.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $52.78 billion, a P/E ratio of 832.59 and a beta of 3.41.

Coinbase Global (NASDAQ:COINGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same period in the previous year, the business posted ($2.46) EPS. The company’s quarterly revenue was up 51.6% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

About Coinbase Global

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.