Wellington Management Group LLP Acquires 16,363 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Wellington Management Group LLP increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 168.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,089 shares of the cryptocurrency exchange’s stock after buying an additional 16,363 shares during the period. Wellington Management Group LLP’s holdings in Coinbase Global were worth $4,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COIN. Stifel Financial Corp grew its position in shares of Coinbase Global by 45.4% in the third quarter. Stifel Financial Corp now owns 43,512 shares of the cryptocurrency exchange’s stock valued at $7,753,000 after purchasing an additional 13,591 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Coinbase Global by 5.6% during the 3rd quarter. Quantinno Capital Management LP now owns 3,700 shares of the cryptocurrency exchange’s stock valued at $659,000 after buying an additional 195 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Coinbase Global by 5.6% during the third quarter. Royal London Asset Management Ltd. now owns 81,467 shares of the cryptocurrency exchange’s stock valued at $14,515,000 after buying an additional 4,300 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Coinbase Global by 36.0% in the third quarter. IHT Wealth Management LLC now owns 9,030 shares of the cryptocurrency exchange’s stock worth $1,569,000 after buying an additional 2,392 shares in the last quarter. Finally, Investment Management Corp of Ontario boosted its position in shares of Coinbase Global by 53.3% in the third quarter. Investment Management Corp of Ontario now owns 6,331 shares of the cryptocurrency exchange’s stock valued at $1,128,000 after acquiring an additional 2,200 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $315.31 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75. The business’s 50 day simple moving average is $259.81 and its two-hundred day simple moving average is $225.48. The stock has a market capitalization of $78.94 billion, a P/E ratio of 53.81 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share. Analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $276.22.

Insider Activity

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at $12,750,015.60. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,720 shares of company stock valued at $79,787,248. 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.