Schonfeld Strategic Advisors LLC Has $5.86 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Schonfeld Strategic Advisors LLC boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 511.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,588 shares of the cryptocurrency exchange’s stock after purchasing an additional 19,733 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Coinbase Global were worth $5,857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lido Advisors LLC lifted its holdings in shares of Coinbase Global by 64.4% during the 4th quarter. Lido Advisors LLC now owns 2,844 shares of the cryptocurrency exchange’s stock valued at $706,000 after buying an additional 1,114 shares during the last quarter. Northern Trust Corp grew its position in Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock worth $321,488,000 after acquiring an additional 218,400 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Coinbase Global by 6.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,096 shares of the cryptocurrency exchange’s stock worth $2,755,000 after acquiring an additional 691 shares in the last quarter. Bellwether Advisors LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth $1,782,000. Finally, NZS Capital LLC bought a new position in shares of Coinbase Global during the 4th quarter valued at $7,996,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 0.8 %

Coinbase Global stock opened at $201.30 on Friday. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 21.19 and a beta of 3.65. The company’s 50 day simple moving average is $188.67 and its 200 day simple moving average is $243.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Compass Point reissued a “sell” rating and set a $180.00 target price on shares of Coinbase Global in a research report on Monday. Piper Sandler increased their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a report on Tuesday, February 18th. Cantor Fitzgerald initiated coverage on Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target on the stock. Finally, Barclays reduced their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.90.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the sale, the insider now owns 83,313 shares in the company, valued at approximately $16,505,971.56. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,970 shares of company stock valued at $38,672,615. Company insiders own 23.43% of the company’s stock.

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.