Foundations Investment Advisors LLC Grows Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Foundations Investment Advisors LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 198.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,614 shares of the cryptocurrency exchange’s stock after purchasing an additional 9,045 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Coinbase Global were worth $3,380,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth $32,000. Brown Brothers Harriman & Co. boosted its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Coinbase Global by 106.9% in the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after purchasing an additional 154 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 7,104 shares of the stock in a transaction dated Monday, November 25th. The stock was 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 in the company, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,489 shares of company stock worth $109,624,297 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 6.8 %

Shares of NASDAQ COIN opened at $277.68 on Tuesday. The stock has a market cap of $69.52 billion, a P/E ratio of 47.39 and a beta of 3.59. The business’s fifty day simple moving average is $289.59 and its 200-day simple moving average is $234.36. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Oppenheimer reduced their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Finally, Needham & Company LLC upped their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $282.83.

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.