Stevens Capital Management LP Acquires 6,193 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Stevens Capital Management LP grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 185.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,532 shares of the cryptocurrency exchange’s stock after purchasing an additional 6,193 shares during the quarter. Stevens Capital Management LP’s holdings in Coinbase Global were worth $1,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates lifted its position in shares of Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after buying an additional 9,564 shares during the last quarter. Masso Torrence Wealth Management Inc. purchased a new position in shares of Coinbase Global in the fourth quarter worth $302,000. Mariner LLC grew its holdings in shares of Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after buying an additional 4,259 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Coinbase Global by 10.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after acquiring an additional 125 shares during the period. Finally, Oak Thistle LLC purchased a new position in Coinbase Global in the 4th quarter worth $1,035,000. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of several research analyst reports. Oppenheimer boosted their price target on Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Needham & Company LLC boosted their target price on shares of Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Citigroup lifted their price target on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Finally, Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $165.43.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $12.71 during trading hours on Friday, reaching $236.32. 6,017,585 shares of the company’s stock were exchanged, compared to its average volume of 13,476,026. The company has a market capitalization of $57.25 billion, a P/E ratio of 828.19 and a beta of 3.41. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The business has a fifty day moving average of $230.62 and a two-hundred day moving average of $159.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the prior year, the business posted ($2.46) EPS. The company’s revenue was up 51.6% compared to the same quarter last year. As a group, research analysts predict that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $232.37, for a total value of $3,806,220.60. Following the sale, the director now owns 4,662 shares in the company, valued at approximately $1,083,308.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 31st. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $232.37, for a total transaction of $3,806,220.60. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $1,083,308.94. The disclosure for this sale can be found here. Insiders sold a total of 532,208 shares of company stock worth $99,652,403 over the last ninety days. Company insiders own 33.16% of the company’s stock.

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.