Flagship Harbor Advisors LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,029 shares of the cryptocurrency exchange’s stock after buying an additional 56 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Coinbase Global were worth $504,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in COIN. Geneos Wealth Management Inc. lifted its stake in Coinbase Global by 224.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 661 shares of the cryptocurrency exchange’s stock worth $164,000 after acquiring an additional 457 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $213,000. Exchange Traded Concepts LLC lifted its position in shares of Coinbase Global by 9.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange’s stock worth $22,413,000 after purchasing an additional 7,597 shares during the period. Impact Partnership Wealth LLC boosted its stake in shares of Coinbase Global by 11.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 1,942 shares of the cryptocurrency exchange’s stock valued at $482,000 after purchasing an additional 200 shares in the last quarter. Finally, LexAurum Advisors LLC increased its holdings in Coinbase Global by 6.3% during the fourth quarter. LexAurum Advisors LLC now owns 10,975 shares of the cryptocurrency exchange’s stock valued at $2,725,000 after buying an additional 646 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.
Analysts Set New Price Targets
COIN has been the subject of a number of analyst reports. Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. B. Riley assumed coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Mizuho raised their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Bank of America boosted their price objective 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $282.83.
Insider Buying and Selling
In other news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the transaction, the chief operating officer now owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 377,705 shares of company stock valued at $112,792,687 over the last 90 days. Insiders own 23.43% of the company’s stock.
Coinbase Global Trading Up 1.4 %
Coinbase Global stock opened at $281.82 on Wednesday. The stock has a 50-day moving average price of $288.73 and a 200 day moving average price of $234.81. The company has a market capitalization of $70.55 billion, a price-to-earnings ratio of 48.09 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.
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current year.
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.
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