Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 34.9% during the first quarter, Holdings Channel.com reports. The firm owned 139,812 shares of the cryptocurrency exchange’s stock after buying an additional 36,193 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Coinbase Global were worth $24,080,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares in the last quarter. IPG Investment Advisors LLC raised its holdings in Coinbase Global by 2.0% during the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after purchasing an additional 45 shares in the last quarter. Vivaldi Capital Management LP raised its holdings in Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after purchasing an additional 47 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Coinbase Global by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock worth $2,746,000 after purchasing an additional 55 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in Coinbase Global by 2.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange’s stock worth $653,000 after purchasing an additional 60 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 target price on the stock. Piper Sandler boosted their target price on Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Benchmark raised their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 target price for the company in a report on Monday, May 12th. Finally, Citigroup restated a “buy” rating on shares of Coinbase Global in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.06.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This trade represents a 96.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global 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 completion of the transaction, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. This trade represents a 10.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 665,915 shares of company stock worth $212,665,732 in the last quarter. 17.65% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 5.8%

Coinbase Global stock opened at $353.43 on Friday. The company has a market capitalization of $89.73 billion, a P/E ratio of 66.19, a P/E/G ratio of 27.43 and a beta of 3.61. The firm’s fifty day simple moving average is $249.67 and its 200-day simple moving average is $241.93. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $382.00.

Coinbase Global (NASDAQ:COIN) last announced its 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). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.53 EPS. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.