2,762 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,762 shares of the cryptocurrency exchange’s stock, valued at approximately $686,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the 3rd quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in Coinbase Global during the 3rd quarter worth $32,000. Brown Brothers Harriman & Co. lifted its holdings in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Abich Financial Wealth Management LLC grew its position in Coinbase Global by 548.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after buying an additional 181 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Coinbase Global during the 3rd quarter valued at about $55,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Down 4.2 %

Shares of COIN traded down $10.91 during trading hours on Monday, reaching $247.87. The stock had a trading volume of 4,826,454 shares, compared to its average volume of 7,280,310. The company has a market cap of $62.05 billion, a P/E ratio of 42.30 and a beta of 3.59. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $287.26 and a 200 day moving average of $229.71.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 78.8% compared to the same quarter last year. On average, sell-side analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COIN shares. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Needham & Company LLC lifted their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods reduced their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Piper Sandler upped their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $284.17.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at $33,150,716.50. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the sale, the director now owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,983 shares of company stock valued at $96,198,957 over the last quarter. Corporate insiders own 23.43% of the company’s stock.

About Coinbase Global

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.