Parallel Advisors LLC Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Parallel Advisors LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 7.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,093 shares of the cryptocurrency exchange’s stock after purchasing an additional 226 shares during the period. Parallel Advisors LLC’s holdings in Coinbase Global were worth $768,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Banco Santander S.A. lifted its position in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the last quarter. Wellington Management Group LLP raised its stake in Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Coinbase Global during the 4th quarter worth $252,000. Virtu Financial LLC acquired a new stake in Coinbase Global during the 3rd quarter worth $3,866,000. Finally, Blueshift Asset Management LLC raised its stake in Coinbase Global by 916.8% during the 3rd quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock worth $3,359,000 after acquiring an additional 16,998 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COIN shares. Barclays lifted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday. They set a “neutral” rating and a $195.00 price target on the stock. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Mizuho dropped their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is owned by company insiders.

Coinbase Global Trading Up 0.3 %

NASDAQ COIN opened at $190.38 on Friday. The stock has a market capitalization of $48.33 billion, a P/E ratio of 20.04 and a beta of 3.66. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The firm has a 50-day moving average price of $248.64 and a 200 day moving average price of $240.42. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts expect 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.