Coinbase Global, Inc. (NASDAQ:COIN) Position Boosted by Private Advisor Group LLC

Private Advisor Group LLC increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 18.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,617 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,896 shares during the period. Private Advisor Group LLC’s holdings in Coinbase Global were worth $4,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. grew its position in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 40 shares in the last quarter. Empowered Funds LLC raised its position in shares of Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after purchasing an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its holdings in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 45 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its stake in Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after purchasing an additional 51 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday. Barclays lifted their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. JMP Securities boosted their price objective 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. Finally, Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $306.17.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now owns 79,407 shares of the company’s stock, valued at $24,441,474.60. The trade was a 8.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 334,306 shares of company stock worth $97,300,651 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $235.38 on Friday. The firm has a market capitalization of $59.76 billion, a PE ratio of 24.78 and a beta of 3.61. 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 50-day moving average price of $275.76 and a 200 day moving average price of $240.11. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.