MSH Capital Advisors LLC Buys Shares of 2,369 Coinbase Global, Inc. (NASDAQ:COIN)

MSH Capital Advisors LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,369 shares of the cryptocurrency exchange's stock, valued at approximately $588,000.

A number of other institutional investors have also made changes to their positions in COIN. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% during 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. bought a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $50,000. Finally, Bogart Wealth LLC grew its stake in shares of Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock worth $52,000 after acquiring an additional 149 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COIN shares. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Piper Sandler lifted their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Mizuho lowered their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Needham & Company LLC reiterated a "buy" rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, HC Wainwright restated a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $297.95.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at $88,646.78. This trade represents a 96.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,114,162.15. This represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,805 shares of company stock valued at $41,907,752. Insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

COIN stock traded up $2.82 during midday trading on Friday, reaching $175.03. 5,118,506 shares of the company's stock traded hands, compared to its average volume of 9,680,447. The company has a 50-day simple moving average of $200.17 and a two-hundred day simple moving average of $241.39. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a market cap of $44.44 billion, a price-to-earnings ratio of 18.42 and a beta of 3.65.

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

About Coinbase Global

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.