Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 383.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,335 shares of the cryptocurrency exchange’s stock after buying an additional 8,199 shares during the quarter. Simplicity Wealth LLC’s holdings in Coinbase Global were worth $1,780,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after buying an additional 128,802 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after buying an additional 127,075 shares in the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $372,450,000. Finally, Northern Trust Corp grew its stake in shares of Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock valued at $321,488,000 after buying an additional 218,400 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,632,167.56. This represents a 74.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at $22,973,200. This trade represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,717 shares of company stock worth $42,980,101. 17.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Compass Point upgraded Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price target on the stock in a research note on Monday, May 12th. Mizuho cut their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Oppenheimer set a $293.00 price target on Coinbase Global in a research note on Thursday, May 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $260.00 price target (up previously from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $266.10.

Coinbase Global Stock Down 0.7%

Shares of Coinbase Global stock opened at $254.94 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $215.86 and its 200-day simple moving average is $242.63. The stock has a market capitalization of $64.72 billion, a price-to-earnings ratio of 26.84 and a beta of 3.61. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.