Maryland State Retirement & Pension System Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Maryland State Retirement & Pension System boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,440 shares of the cryptocurrency exchange’s stock after buying an additional 259 shares during the period. Maryland State Retirement & Pension System’s holdings in Coinbase Global were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. First Trust Direct Indexing L.P. lifted its holdings in shares of Coinbase Global by 26.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,817 shares of the cryptocurrency exchange’s stock worth $1,012,000 after acquiring an additional 790 shares during the last quarter. Norden Group LLC bought a new stake in Coinbase Global in the first quarter worth $314,000. United Capital Management of KS Inc. lifted its stake in Coinbase Global by 16.8% in the first quarter. United Capital Management of KS Inc. now owns 10,460 shares of the cryptocurrency exchange’s stock worth $2,773,000 after purchasing an additional 1,501 shares during the last quarter. JTC Employer Solutions Trustee Ltd lifted its stake in Coinbase Global by 10.6% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 3,573 shares of the cryptocurrency exchange’s stock worth $918,000 after purchasing an additional 342 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new stake in Coinbase Global in the first quarter worth $585,000. 68.84% of the stock is owned by institutional investors.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total value of $101,565.00. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The disclosure for this sale can be found here. Insiders sold a total of 330,516 shares of company stock valued at $73,051,856 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

COIN stock traded down $9.84 during midday trading on Friday, reaching $215.10. 3,998,776 shares of the company’s stock traded hands, compared to its average volume of 11,665,368. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The stock has a market cap of $52.82 billion, a P/E ratio of 42.29 and a beta of 3.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average is $227.71 and its 200 day moving average is $203.62.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Barclays boosted their price objective on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. HC Wainwright reiterated a “buy” rating and set a $315.00 price target on shares of Coinbase Global in a research report on Tuesday, June 18th. Bank of America upgraded shares of Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $110.00 to $217.00 in a research report on Friday, May 17th. Finally, Singular Research reissued a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average target price of $215.50.

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.