Vestmark Advisory Solutions Inc. Has $16.38 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Vestmark Advisory Solutions Inc. lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 47.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,811 shares of the cryptocurrency exchange’s stock after purchasing an additional 20,805 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Coinbase Global were worth $16,376,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in shares of Coinbase Global by 20.1% during the third quarter. Janney Montgomery Scott LLC now owns 38,634 shares of the cryptocurrency exchange’s stock valued at $6,883,000 after purchasing an additional 6,466 shares in the last quarter. National Pension Service boosted its position in shares of Coinbase Global by 15.6% during the 3rd quarter. National Pension Service now owns 265,646 shares of the cryptocurrency exchange’s stock valued at $47,330,000 after acquiring an additional 35,839 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Coinbase Global by 3.6% in the third quarter. Asset Management One Co. Ltd. now owns 68,193 shares of the cryptocurrency exchange’s stock worth $12,150,000 after acquiring an additional 2,352 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Coinbase Global by 237.5% in the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after buying an additional 23,040 shares in the last quarter. Finally, Crescent Grove Advisors LLC purchased a new position in Coinbase Global in the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Mizuho dropped their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, Piper Sandler increased their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

Coinbase Global Trading Up 4.7 %

Shares of COIN opened at $222.45 on Thursday. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company’s fifty day simple moving average is $264.38 and its 200-day simple moving average is $241.24. The company has a market cap of $56.48 billion, a P/E ratio of 23.42 and a beta of 3.61. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS 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, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Coinbase Global Company 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.