Canada Pension Plan Investment Board Buys 486,512 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Canada Pension Plan Investment Board raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1,186.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 527,512 shares of the cryptocurrency exchange’s stock after purchasing an additional 486,512 shares during the period. Canada Pension Plan Investment Board owned 0.21% of Coinbase Global worth $139,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after buying an additional 2,624,989 shares in the last quarter. Norges Bank purchased a new stake in shares of Coinbase Global during the fourth quarter worth $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global during the fourth quarter worth $147,646,000. Charles Schwab Investment Management Inc. boosted its position in shares of Coinbase Global by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after acquiring an additional 37,847 shares during the period. Finally, Hamilton Lane Advisors LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth $88,015,000. 68.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the transaction, the chief operating officer now directly owns 213,851 shares of the company’s stock, valued at $45,977,965. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the sale, the chief operating officer now owns 213,851 shares of the company’s stock, valued at $45,977,965. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock worth $58,878,978 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Piper Sandler raised their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $260.00 to $345.00 in a report on Tuesday. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $110.00 to $217.00 in a report on Friday, May 17th. Finally, Sanford C. Bernstein boosted their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $237.50.

Coinbase Global Stock Up 4.9 %

NASDAQ:COIN traded up $11.41 during mid-day trading on Friday, hitting $242.93. 7,917,446 shares of the company’s stock were exchanged, compared to its average volume of 7,802,415. The company has a market cap of $59.66 billion, a PE ratio of 48.49 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The business has a fifty day moving average price of $235.30 and a 200 day moving average price of $211.46.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. Equities analysts predict that Coinbase Global, Inc. will post 4.95 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.