State of New Jersey Common Pension Fund D Has $17.21 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

State of New Jersey Common Pension Fund D grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,975 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,870 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Coinbase Global were worth $17,214,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in COIN. Arkadios Wealth Advisors bought a new stake in Coinbase Global in the 3rd quarter valued at about $248,000. Impact Partnership Wealth LLC boosted its stake in Coinbase Global by 23.4% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,532 shares of the cryptocurrency exchange’s stock valued at $115,000 after purchasing an additional 291 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth $201,000. Walter & Keenan Wealth Management LLC IN ADV lifted its position in shares of Coinbase Global by 7.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 15,891 shares of the cryptocurrency exchange’s stock worth $1,193,000 after buying an additional 1,043 shares in the last quarter. Finally, Golden State Equity Partners purchased a new position in shares of Coinbase Global in the 3rd quarter worth approximately $213,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 0.3 %

Coinbase Global stock traded down $0.76 on Thursday, hitting $223.61. 5,119,559 shares of the stock traded hands, compared to its average volume of 13,568,734. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a market cap of $54.17 billion, a P/E ratio of 831.00 and a beta of 3.41. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $229.46 and its 200 day simple moving average is $159.37.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. Coinbase Global’s quarterly revenue was up 51.6% on a year-over-year basis. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup lifted their price target on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Piper Sandler boosted their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Sanford C. Bernstein increased their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Finally, Barclays increased their price target on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.43.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the completion of the transaction, the chief operating officer now owns 233,142 shares in the company, valued at $30,147,592.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the completion of the sale, the chief operating officer now owns 233,142 shares of the company’s stock, valued at $30,147,592.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now owns 4,833 shares of the company’s stock, valued at $1,256,580. The disclosure for this sale can be found here. Insiders sold 515,828 shares of company stock worth $95,846,182 over the last three months. 33.16% of the stock is currently owned by corporate insiders.

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.