Alpine Global Management LLC Invests $640,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Alpine Global Management LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,576 shares of the cryptocurrency exchange's stock, valued at approximately $640,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the 4th quarter worth $27,000. Atala Financial Inc purchased a new position in shares of Coinbase Global during the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after acquiring an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Coinbase Global during the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC lifted its holdings in Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after purchasing an additional 149 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,395 shares of company stock valued at $31,207,615 in the last ninety days. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Up 2.8 %

NASDAQ:COIN traded up $5.77 during mid-day trading on Friday, hitting $209.64. 8,046,856 shares of the company's stock traded hands, compared to its average volume of 9,685,598. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $53.22 billion, a P/E ratio of 22.07 and a beta of 3.65. The company has a fifty day moving average of $193.01 and a 200 day moving average of $242.06. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. Mizuho lowered their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Piper Sandler increased their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Rosenblatt Securities cut their target price on shares of Coinbase Global from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, HC Wainwright reiterated a "buy" rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $295.65.

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.