Harbor Investment Advisory LLC Increases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Harbor Investment Advisory LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 737 shares of the cryptocurrency exchange’s stock after buying an additional 99 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Coinbase Global were worth $183,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of COIN. Envestnet Asset Management Inc. boosted its stake in Coinbase Global by 14.8% during the second quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock worth $9,966,000 after buying an additional 5,767 shares during the period. AE Wealth Management LLC boosted its stake in shares of Coinbase Global by 17.9% in the second quarter. AE Wealth Management LLC now owns 941 shares of the cryptocurrency exchange’s stock valued at $209,000 after purchasing an additional 143 shares during the period. Sei Investments Co. boosted its stake in shares of Coinbase Global by 22.3% in the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after purchasing an additional 2,212 shares during the period. Frank Rimerman Advisors LLC boosted its stake in shares of Coinbase Global by 342.6% in the second quarter. Frank Rimerman Advisors LLC now owns 1,412 shares of the cryptocurrency exchange’s stock valued at $314,000 after purchasing an additional 1,093 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Coinbase Global by 69.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,571 shares of the cryptocurrency exchange’s stock valued at $352,000 after purchasing an additional 646 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Oppenheimer lowered their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Piper Sandler raised their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Needham & Company LLC raised their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays raised their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $282.83.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the transaction, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the completion of the transaction, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 377,489 shares of company stock worth $111,724,097 in the last three months. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $295.85 on Thursday. The firm’s fifty day simple moving average is $290.36 and its 200-day simple moving average is $232.75. The stock has a market capitalization of $74.07 billion, a price-to-earnings ratio of 50.49 and a beta of 3.59. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

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.