Arizona State Retirement System Has $13.72 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Arizona State Retirement System increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,259 shares of the cryptocurrency exchange’s stock after purchasing an additional 798 shares during the quarter. Arizona State Retirement System’s holdings in Coinbase Global were worth $13,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the period. Finally, Bogart Wealth LLC grew its position in shares of Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COIN. Barclays boosted their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. HC Wainwright reiterated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Finally, Piper Sandler lifted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $311.56.

Coinbase Global Stock Up 4.7 %

COIN stock opened at $222.45 on Thursday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $56.48 billion, a PE ratio of 23.42 and a beta of 3.61. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The business’s 50 day simple moving average is $264.38 and its 200 day simple moving average is $241.24.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $3,230,728.38. This represents a 49.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 in the last ninety days. 23.43% of the stock is currently 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.