Allspring Global Investments Holdings LLC Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Allspring Global Investments Holdings LLC grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,095 shares of the cryptocurrency exchange’s stock after acquiring an additional 591 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coinbase Global were worth $1,881,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in COIN. Barrett & Company Inc. bought a new position in Coinbase Global in the fourth quarter worth about $26,000. Creekmur Asset Management LLC purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $27,000. Mather Group LLC. bought a new position in shares of Coinbase Global during the 1st quarter worth approximately $32,000. AlphaMark Advisors LLC purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $33,000. Finally, Signature Resources Capital Management LLC acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $39,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 4,200 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $247.54, for a total transaction of $1,039,668.00. Following the completion of the sale, the chief financial officer now owns 192,622 shares of the company’s stock, valued at $47,681,649.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total value of $293,850.00. Following the completion of the sale, the chief operating officer now directly owns 204,436 shares in the company, valued at approximately $40,049,012.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 4,200 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $247.54, for a total transaction of $1,039,668.00. Following the transaction, the chief financial officer now directly owns 192,622 shares in the company, valued at approximately $47,681,649.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,141 shares of company stock valued at $78,864,413. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Down 2.5 %

Shares of COIN stock opened at $227.51 on Wednesday. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The stock has a market cap of $55.87 billion, a P/E ratio of 45.41 and a beta of 3.40. The stock has a 50 day moving average of $227.67 and a 200 day moving average of $203.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Singular Research restated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Oppenheimer boosted their target price on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $215.50.

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.