Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.7% in the 4th quarter, Holdings Channel reports. The firm owned 17,499 shares of the cryptocurrency exchange’s stock after buying an additional 1,975 shares during the period. Janus Henderson Group PLC’s holdings in Coinbase Global were worth $4,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $50,000. Finally, BNP Paribas acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $50,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN opened at $266.46 on Monday. The company’s fifty day moving average is $191.65 and its 200-day moving average is $244.75. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The firm has a market cap of $67.65 billion, a price-to-earnings ratio of 28.05 and a beta of 3.62. 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 quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the company earned $2.53 EPS. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. Needham & Company LLC cut their target price on shares of Coinbase Global from $330.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Piper Sandler upped their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Benchmark upped their price target on shares of Coinbase Global from $252.00 to $301.00 and gave the company a “buy” rating in a research report on Friday. Canaccord Genuity Group restated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research report on Friday, May 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $400.00 price target on shares of Coinbase Global in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $265.20.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. This represents a 6.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,764 shares of company stock worth $35,671,592 in the last 90 days. 17.65% of the stock is owned by insiders.

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.