Schonfeld Strategic Advisors LLC Increases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Schonfeld Strategic Advisors LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 511.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,588 shares of the cryptocurrency exchange’s stock after acquiring an additional 19,733 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Coinbase Global were worth $5,857,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Coinbase Global during the 4th quarter valued at $50,000. Finally, Bogart Wealth LLC grew its holdings in 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 acquiring an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COIN. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price on the stock. Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Barclays lowered their price target on Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Compass Point reiterated a “sell” rating and set a $180.00 target price on shares of Coinbase Global in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $289.90.

Coinbase Global Price Performance

Shares of COIN opened at $201.30 on Friday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The stock’s fifty day moving average is $188.67 and its 200-day moving average is $243.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 21.19 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $198.44, for a total value of $3,968,800.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $104,379.44. The trade was a 97.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,970 shares of company stock worth $38,672,615 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global 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.