Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,592 shares of the cryptocurrency exchange’s stock after purchasing an additional 356 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coinbase Global were worth $2,210,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. increased its stake in Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global in the third quarter valued at $29,756,000. Lindbrook Capital LLC increased its stake in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares during the period. Wellington Management Group LLP increased its stake in shares of Coinbase Global by 168.2% during the third 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. Finally, QRG Capital Management Inc. increased its stake in shares of Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after acquiring an additional 23,040 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the transaction, the insider now owns 79,407 shares of the company’s stock, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,074,056.70. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 334,306 shares of company stock valued at $97,300,651 over the last quarter. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent analyst reports. Monness Crespi & Hardt boosted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Barclays boosted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, JMP Securities upped their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $304.50.

Coinbase Global Stock Performance

Shares of COIN opened at $235.38 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 company has a market capitalization of $58.93 billion, a price-to-earnings ratio of 24.78 and a beta of 3.61. The company’s 50 day simple moving average is $275.76 and its 200 day simple moving average is $239.79. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts predict 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.