Oak Thistle LLC Invests $1.29 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Oak Thistle LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 5,181 shares of the cryptocurrency exchange's stock, valued at approximately $1,286,000.

Several other hedge funds and other institutional investors also recently modified their holdings of COIN. Empowered Funds LLC boosted its holdings in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after purchasing an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock valued at $106,000 after buying an additional 51 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Coinbase Global by 2.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange's stock valued at $652,000 after buying an additional 51 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange's stock worth $446,000 after acquiring an additional 61 shares during the period. Finally, Brooklyn Investment Group raised its position in Coinbase Global by 3.9% in the third quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange's stock worth $314,000 after acquiring an additional 66 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 7.6 %

Shares of COIN stock traded up $19.52 during trading hours on Wednesday, hitting $274.89. 9,069,073 shares of the company were exchanged, compared to its average volume of 7,560,636. The firm has a fifty day moving average of $289.78 and a 200 day moving average of $230.14. 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, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The firm has a market cap of $68.82 billion, a PE ratio of 46.91 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during 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 firm's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS. Analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the sale, the insider now owns 74,956 shares of the company's stock, valued at $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,936,968.98. This represents a 68.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 321,333 shares of company stock valued at $95,092,118. Company insiders own 23.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COIN. HC Wainwright reaffirmed a "buy" rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods dropped their target price 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. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price target on the stock. Piper Sandler raised their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $284.17.

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.