Mariner LLC Has $19.92 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Mariner LLC grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 80,219 shares of the cryptocurrency exchange’s stock after buying an additional 6,798 shares during the period. Mariner LLC’s holdings in Coinbase Global were worth $19,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Coinbase Global during the fourth quarter worth $536,484,000. Groupama Asset Managment acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $372,450,000. Proficio Capital Partners LLC grew its position in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after acquiring an additional 417,036 shares during the period. Wellington Management Group LLP boosted its stake in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after purchasing an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after purchasing an additional 295,313 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,067 shares of company stock valued at $49,486,825 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Trading Down 1.9 %

NASDAQ:COIN opened at $172.21 on Thursday. 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, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The firm has a market capitalization of $43.72 billion, a price-to-earnings ratio of 18.13 and a beta of 3.65. The business’s 50-day moving average price is $204.11 and its two-hundred day moving average price is $241.35.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on COIN. Barclays decreased their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, JMP Securities lowered their price objective on shares of Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $298.74.

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.