Salem Investment Counselors Inc. Buys 114 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Salem Investment Counselors Inc. boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 162.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184 shares of the cryptocurrency exchange’s stock after acquiring an additional 114 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Coinbase Global were worth $49,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Coinbase Global by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after buying an additional 408,046 shares in the last quarter. Morgan Stanley increased its stake in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Norges Bank acquired a new position in shares of Coinbase Global during the 4th quarter worth about $202,936,000. Northern Trust Corp increased its stake in shares of Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after purchasing an additional 37,019 shares during the last quarter. Finally, a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global during the 4th quarter worth about $147,646,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $225.86 on Monday. The company has a market cap of $55.46 billion, a price-to-earnings ratio of 45.08 and a beta of 3.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $227.51 and a 200 day simple moving average of $199.50. Coinbase Global, Inc. has a one year low of $55.10 and a one year high of $283.48.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on COIN. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Wednesday, June 5th. Sanford C. Bernstein upped their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Mizuho upped their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Finally, Oppenheimer upped their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $215.50.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $260.00, for a total transaction of $390,000.00. Following the sale, the chief operating officer now owns 224,851 shares of the company’s stock, valued at $58,461,260. The disclosure for this sale can be found here. Insiders sold a total of 367,901 shares of company stock worth $83,355,331 over the last three months. 23.43% of the stock is owned by company insiders.

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.