California Public Employees Retirement System Has $53.05 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

California Public Employees Retirement System raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 304,996 shares of the cryptocurrency exchange’s stock after acquiring an additional 343 shares during the period. California Public Employees Retirement System’s holdings in Coinbase Global were worth $53,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barrett & Company Inc. acquired a new position in Coinbase Global during the 4th quarter worth approximately $26,000. AlphaMark Advisors LLC bought a new position in Coinbase Global in the fourth quarter valued at $33,000. Harbor Investment Advisory LLC increased its stake in Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. Coston McIsaac & Partners bought a new stake in Coinbase Global during the 4th quarter worth about $52,000. Finally, Steph & Co. boosted its stake in shares of Coinbase Global by 100.0% during the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 150 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $129.31, for a total transaction of $193,965.00. Following the transaction, the chief operating officer now owns 233,142 shares in the company, valued at $30,147,592.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $232.37, for a total transaction of $3,806,220.60. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at $1,083,308.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $129.31, for a total transaction of $193,965.00. Following the completion of the sale, the chief operating officer now directly owns 233,142 shares of the company’s stock, valued at $30,147,592.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 532,208 shares of company stock worth $99,652,403. Company insiders own 33.16% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $223.61 on Friday. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $54.17 billion, a P/E ratio of 828.19 and a beta of 3.41. The company’s 50 day moving average price is $230.62 and its two-hundred day moving average price is $159.82.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter last year, the business posted ($2.46) earnings per share. The company’s quarterly revenue was up 51.6% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research note on Friday, March 8th. Piper Sandler raised their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, Wedbush raised their target price on shares of Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $165.43.

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.