Maryland State Retirement & Pension System Sells 387 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Maryland State Retirement & Pension System lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,926 shares of the cryptocurrency exchange’s stock after selling 387 shares during the period. Maryland State Retirement & Pension System’s holdings in Coinbase Global were worth $2,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Banco Santander S.A. increased its holdings in 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 acquiring an additional 16,737 shares during the period. Wellington Management Group LLP increased its holdings 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 during the period. McElhenny Sheffield Capital Management LLC bought a new stake in Coinbase Global during the 4th quarter worth approximately $252,000. Virtu Financial LLC bought a new stake in Coinbase Global during the 3rd quarter worth approximately $3,866,000. Finally, Blueshift Asset Management LLC increased its holdings 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 during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 0.3 %

Shares of 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. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $248.64 and a two-hundred day simple moving average of $240.42. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results 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 net margin of 39.34% and a return on equity of 20.64%. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the company’s 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 completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COIN shares. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday. They issued a “neutral” rating and a $195.00 price target for the company. Mizuho cut their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Rosenblatt Securities started coverage on shares of Coinbase Global in a research note on Friday, March 7th. They issued a “buy” rating and a $305.00 price target for the company. Barclays boosted 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. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.72.

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.