American Century Companies Inc. Reduces Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

American Century Companies Inc. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% in the 4th quarter, HoldingsChannel reports. The fund owned 384,053 shares of the cryptocurrency exchange’s stock after selling 3,226 shares during the period. American Century Companies Inc.’s holdings in Coinbase Global were worth $95,360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the third quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global in the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. JMP Securities upped their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Keefe, Bruyette & Woods increased their target price on shares of 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, Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $203.04 on Tuesday. The business’s 50-day moving average price is $246.30 and its 200-day moving average price is $241.82. The firm has a market capitalization of $51.55 billion, a PE ratio of 21.37 and a beta of 3.66. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. 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 posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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%. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,034 shares of company stock valued at $57,835,408 over the last three months. 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.