Fiduciary Alliance LLC Buys New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Fiduciary Alliance LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,110 shares of the cryptocurrency exchange’s stock, valued at approximately $1,036,000.

A number of other institutional investors also recently made changes to their positions in COIN. Barrett & Company Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in Coinbase Global during the first quarter worth approximately $32,000. AlphaMark Advisors LLC bought a new position in shares of Coinbase Global in the fourth quarter valued at $33,000. Finally, Signature Resources Capital Management LLC acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $39,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Coinbase Global stock traded down $1.77 during mid-day trading on Friday, reaching $222.23. The company had a trading volume of 10,944,920 shares, compared to its average volume of 8,048,456. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market cap of $54.57 billion, a price-to-earnings ratio of 44.36 and a beta of 3.44. The company has a 50 day moving average of $227.70 and a 200-day moving average of $201.84. Coinbase Global, Inc. has a 52 week low of $68.15 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. On average, sell-side analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Insider Activity

In related news, CAO Jennifer N. Jones sold 15,580 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the sale, the chief accounting officer now directly owns 2,212 shares in the company, valued at approximately $529,287.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now owns 66,122 shares in the company, valued at approximately $14,644,039.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the transaction, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at approximately $529,287.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 360,021 shares of company stock worth $80,655,822. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. Sanford C. Bernstein boosted their target price on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Barclays raised their target price on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a report on Monday, May 6th. Mizuho boosted their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Friday, May 3rd. Finally, Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $215.50.

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.