Brown Brothers Harriman & Co. Has $86,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Brown Brothers Harriman & Co. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 36.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346 shares of the cryptocurrency exchange’s stock after purchasing an additional 92 shares during the period. Brown Brothers Harriman & Co.’s holdings in Coinbase Global were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. DnB Asset Management AS boosted its position in shares of Coinbase Global by 6.2% in the fourth quarter. DnB Asset Management AS now owns 34,310 shares of the cryptocurrency exchange’s stock valued at $8,519,000 after acquiring an additional 2,003 shares during the period. Orion Portfolio Solutions LLC raised its stake in Coinbase Global by 64.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 10,023 shares of the cryptocurrency exchange’s stock worth $2,489,000 after purchasing an additional 3,918 shares in the last quarter. X Square Capital LLC boosted its holdings in Coinbase Global by 84.7% in the 4th quarter. X Square Capital LLC now owns 3,069 shares of the cryptocurrency exchange’s stock valued at $762,000 after purchasing an additional 1,407 shares during the period. Norges Bank acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $536,484,000. Finally, Blair William & Co. IL increased its holdings in shares of Coinbase Global by 4.1% during the fourth quarter. Blair William & Co. IL now owns 32,213 shares of the cryptocurrency exchange’s stock worth $7,998,000 after purchasing an additional 1,276 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $305.00 price target on shares of Coinbase Global in a research note on Wednesday, March 26th. Barclays upped their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. JMP Securities boosted their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,609 shares of company stock worth $61,331,908. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Up 1.3 %

Shares of COIN stock opened at $174.52 on Wednesday. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The stock’s fifty day simple moving average is $234.50 and its 200 day simple moving average is $242.97. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $44.31 billion, a P/E ratio of 18.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS 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.