Royal London Asset Management Ltd. Has $20.94 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Royal London Asset Management Ltd. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,336 shares of the cryptocurrency exchange’s stock after buying an additional 2,869 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Coinbase Global were worth $20,941,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 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 buying an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $252,000. Virtu Financial LLC purchased a new stake in shares of Coinbase Global in the third quarter worth approximately $3,866,000. Blueshift Asset Management LLC raised its stake in shares of Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock worth $3,359,000 after purchasing an additional 16,998 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $591,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on COIN shares. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research note on Tuesday. JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler upped their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.72.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the stock in a transaction on 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 sale, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $189.86 on Friday. The stock has a fifty day simple moving average of $247.26 and a two-hundred day simple moving average of $240.47. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The firm has a market cap of $48.20 billion, a price-to-earnings ratio of 19.99 and a beta of 3.66. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share 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.