Foundations Investment Advisors LLC Increases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Foundations Investment Advisors LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 198.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,614 shares of the cryptocurrency exchange's stock after purchasing an additional 9,045 shares during the quarter. Foundations Investment Advisors LLC's holdings in Coinbase Global were worth $3,380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of COIN. Banco Santander S.A. increased its position in Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange's stock valued at $26,531,000 after buying an additional 16,737 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange's stock valued at $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global in the 3rd quarter worth about $29,756,000. Lindbrook Capital LLC boosted its stake in Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange's stock worth $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Coinbase Global during the 2nd quarter valued at about $2,908,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

COIN stock traded up $3.83 during midday trading on Tuesday, hitting $281.82. The company's stock had a trading volume of 4,486,410 shares, compared to its average volume of 8,455,416. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $288.73 and a two-hundred day moving average of $234.81. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The firm has a market capitalization of $70.55 billion, a price-to-earnings ratio of 48.09 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. On average, analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the transaction, the insider now owns 79,407 shares in the company, valued at $24,441,474.60. The trade was a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 377,705 shares of company stock valued at $112,792,687 over the last 90 days. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COIN shares. B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 target price on the stock. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a "market perform" rating for the company in a report on Monday, January 13th. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Needham & Company LLC boosted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a "buy" rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $282.83.

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.