HighPoint Advisor Group LLC Invests $473,000 in Coinbase Global, Inc. (NASDAQ:COIN)

HighPoint Advisor Group LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,721 shares of the cryptocurrency exchange’s stock, valued at approximately $473,000.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $202,936,000. a16z Perennial Management L.P. acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $147,646,000. Morgan Stanley increased its holdings in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares in the last quarter. Hamilton Lane Advisors LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after purchasing an additional 430,546 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research report on Wednesday, June 5th. Mizuho lifted their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Piper Sandler lifted their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $215.50.

Coinbase Global Stock Down 3.7 %

Shares of COIN stock opened at $235.95 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 1 year low of $53.63 and a 1 year high of $283.48. The firm’s fifty day moving average price is $228.76 and its two-hundred day moving average price is $197.52. The firm has a market capitalization of $57.94 billion, a P/E ratio of 47.10 and a beta of 3.44.

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

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.00, for a total transaction of $390,000.00. Following the completion of the sale, the chief operating officer now owns 224,851 shares of the company’s stock, valued at approximately $58,461,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The disclosure for this sale can be found here. Insiders have sold 378,158 shares of company stock worth $86,182,160 in the last ninety days. 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.