Sivia Capital Partners LLC Buys Shares of 857 Coinbase Global, Inc. (NASDAQ:COIN)

Sivia Capital Partners LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, HoldingsChannel reports. The firm bought 857 shares of the cryptocurrency exchange’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in Coinbase Global in the 3rd quarter worth approximately $32,000. Abich Financial Wealth Management LLC grew its position in Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after purchasing an additional 181 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of 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 buying an additional 204 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Coinbase Global by 233.7% in the second quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock worth $66,000 after buying an additional 208 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. HC Wainwright restated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Piper Sandler upped their target price on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Bank of America upped their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $284.17.

Coinbase Global Price Performance

Shares of COIN stock traded down $12.06 on Monday, reaching $246.72. 5,522,438 shares of the company were exchanged, compared to its average volume of 7,379,917. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The business has a 50-day moving average price of $287.26 and a 200 day moving average price of $229.71. The company has a market cap of $61.77 billion, a price-to-earnings ratio of 42.10 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. Equities research analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,983 shares of company stock valued at $96,198,957 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global 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.