Skopos Labs Inc. Acquires Shares of 1,677 Coinbase Global, Inc. (NASDAQ:COIN)

Skopos Labs Inc. purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,677 shares of the cryptocurrency exchange’s stock, valued at approximately $292,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Coinbase Global by 1.3% during the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after purchasing an additional 176,525 shares during the last quarter. Morgan Stanley increased its stake in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Norges Bank bought a new position in shares of Coinbase Global during the fourth quarter worth about $202,936,000. Northern Trust Corp grew its position in shares of Coinbase Global by 4.3% during the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after acquiring an additional 37,019 shares during the last quarter. Finally, a16z Perennial Management L.P. bought a new position in shares of Coinbase Global during the fourth quarter worth about $147,646,000. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on COIN. Oppenheimer upped their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays increased their target price on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Needham & Company LLC decreased their target price on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, Mizuho increased their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $214.67.

Insider Buying and Selling

In related news, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total value of $4,504,008.60. Following the completion of the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $1,281,910.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,019 shares of company stock worth $108,548,420. Insiders own 33.16% of the company’s stock.

Coinbase Global Stock Up 8.6 %

Shares of NASDAQ COIN traded up $18.79 during mid-day trading on Friday, reaching $237.65. The company had a trading volume of 10,249,246 shares, compared to its average volume of 8,954,198. The stock has a fifty day moving average of $232.51 and a two-hundred day moving average of $180.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $58.36 billion, a price-to-earnings ratio of 47.44 and a beta of 3.46. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. As a group, equities research analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

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.