Teza Capital Management LLC Buys 733 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Teza Capital Management LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 47.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,291 shares of the cryptocurrency exchange’s stock after acquiring an additional 733 shares during the quarter. Teza Capital Management LLC’s holdings in Coinbase Global were worth $569,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of COIN. Principal Financial Group Inc. increased its stake in shares of Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Coinbase Global by 21.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,364 shares of the cryptocurrency exchange’s stock valued at $1,084,000 after acquiring an additional 783 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Coinbase Global by 73.4% in the 4th quarter. Park Avenue Securities LLC now owns 3,317 shares of the cryptocurrency exchange’s stock valued at $824,000 after acquiring an additional 1,404 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Coinbase Global during the 4th quarter valued at $369,000. Finally, Wealthcare Advisory Partners LLC increased its stake in Coinbase Global by 8.1% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,794 shares of the cryptocurrency exchange’s stock valued at $445,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 15,517 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total value of $4,049,626.66. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,718,628.66. The trade was a 59.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 1,952 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total value of $488,000.00. Following the completion of the sale, the insider now owns 81,773 shares in the company, valued at $20,443,250. This represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,764 shares of company stock worth $35,671,592. Company insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COIN shares. Citigroup reiterated a “neutral” rating on shares of Coinbase Global in a report on Thursday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, Compass Point raised shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective on the stock 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 given a strong buy rating to the company. According to MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $266.40.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $263.99 on Tuesday. The company’s 50-day moving average is $193.10 and its 200 day moving average is $245.31. 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 company has a market capitalization of $67.02 billion, a P/E ratio of 27.79 and a beta of 3.62. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

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