Janus Henderson Group PLC Boosts Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Janus Henderson Group PLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 12.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,499 shares of the cryptocurrency exchange’s stock after buying an additional 1,975 shares during the quarter. Janus Henderson Group PLC’s holdings in Coinbase Global were worth $4,343,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after buying an additional 128,802 shares during the period. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after acquiring an additional 127,075 shares during the period. Norges Bank acquired a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $372,450,000. Finally, Northern Trust Corp increased its stake in shares of Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock worth $321,488,000 after purchasing an additional 218,400 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of several recent analyst reports. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, May 13th. Oppenheimer lowered their price objective on shares of Coinbase Global from $279.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a report on Friday, May 9th. Citigroup restated a “neutral” rating on shares of Coinbase Global in a report on Thursday, May 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, May 12th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.20.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $88,646.78. This represents a 96.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,718,628.66. This represents a 59.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,764 shares of company stock worth $35,671,592. Insiders own 17.65% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $266.46 on Monday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. 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 company has a market cap of $67.65 billion, a PE ratio of 28.05 and a beta of 3.62. The firm has a 50-day simple moving average of $191.65 and a 200 day simple moving average of $244.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company posted $2.53 EPS. Coinbase Global’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 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.