Teza Capital Management LLC Buys 733 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Teza Capital Management LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 47.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,291 shares of the cryptocurrency exchange’s stock after acquiring an additional 733 shares during the period. Teza Capital Management LLC’s holdings in Coinbase Global were worth $569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. Norges Bank bought a new stake in shares of Coinbase Global during the fourth quarter valued at about $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global during the fourth quarter worth about $372,450,000. Proficio Capital Partners LLC grew its holdings in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Coinbase Global by 1,159.9% during the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after purchasing an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Coinbase Global by 614.8% during the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after purchasing an additional 295,313 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $263.99 on Tuesday. The firm has a market cap of $67.02 billion, a PE ratio of 27.79 and a beta of 3.62. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The business has a 50 day moving average price of $193.10 and a 200-day moving average price of $245.31.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 analysts’ expectations of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the company posted $2.53 EPS. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COIN. Rosenblatt Securities reissued a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Monday, May 12th. Cantor Fitzgerald started coverage on Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Thursday, May 8th. Needham & Company LLC cut their target price on Coinbase Global from $330.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. cut their target price on Coinbase Global from $276.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.40.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 1,952 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total value of $488,000.00. Following the transaction, the insider now owns 81,773 shares of the company’s stock, valued at approximately $20,443,250. This represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,764 shares of company stock worth $35,671,592 over the last quarter. 17.65% of the stock is owned by corporate insiders.

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.