Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 38.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,266 shares of the cryptocurrency exchange's stock after acquiring an additional 2,571 shares during the period. Advisory Services Network LLC's holdings in Coinbase Global were worth $2,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the fourth quarter valued at $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB boosted its stake 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 worth $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global during the fourth quarter worth about $50,000. Finally, Bogart Wealth LLC raised its position 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 acquiring an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity

In related news, insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now directly owns 10,417 shares of the company's stock, valued at approximately $3,126,037.53. This trade represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,767 shares of company stock valued at $48,326,134 in the last 90 days. Company insiders own 23.43% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on COIN shares. JMP Securities dropped their price objective on shares of Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Barclays cut their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $298.74.

Coinbase Global Trading Down 1.0 %

NASDAQ COIN traded down $1.85 on Tuesday, reaching $174.73. 4,129,136 shares of the company were exchanged, compared to its average volume of 9,743,120. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The stock has a market capitalization of $44.36 billion, a P/E ratio of 18.36 and a beta of 3.65. The business's fifty day moving average price is $208.05 and its 200 day moving average price is $242.29. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. Analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share 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.