Sei Investments Co. Buys 6,488 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Sei Investments Co. boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 44.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 20,938 shares of the cryptocurrency exchange’s stock after acquiring an additional 6,488 shares during the period. Sei Investments Co.’s holdings in Coinbase Global were worth $5,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Coinbase Global by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after buying an additional 15,954 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares during the period. National Pension Service boosted its position in Coinbase Global by 1.6% during the fourth quarter. National Pension Service now owns 269,936 shares of the cryptocurrency exchange’s stock valued at $67,025,000 after acquiring an additional 4,290 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Coinbase Global by 1.4% during the 4th quarter. Rhumbline Advisers now owns 263,403 shares of the cryptocurrency exchange’s stock worth $65,403,000 after acquiring an additional 3,613 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 1.3 %

Shares of NASDAQ:COIN opened at $174.52 on Wednesday. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 18.37 and a beta of 3.66. The business’s 50 day moving average is $234.50 and its 200 day moving average is $242.97. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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 forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. The trade was a 95.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock worth $61,331,908 in the last 90 days. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Barclays lifted their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Rosenblatt Securities reissued a “buy” rating and set a $305.00 target price on shares of Coinbase Global in a research note on Wednesday, March 26th. Finally, Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Company 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.