Park Avenue Securities LLC Acquires 1,404 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Park Avenue Securities LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 73.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,317 shares of the cryptocurrency exchange's stock after acquiring an additional 1,404 shares during the quarter. Park Avenue Securities LLC's holdings in Coinbase Global were worth $824,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in COIN. Banco Santander S.A. increased its stake in shares of Coinbase Global by 12.7% in the third 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 raised its stake in shares of Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange's stock worth $477,000 after acquiring an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Coinbase Global during the third quarter worth approximately $29,756,000. Lindbrook Capital LLC boosted its holdings in Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange's stock valued at $5,347,000 after acquiring an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Coinbase Global in the second quarter worth about $2,908,000. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

COIN stock traded up $1.66 during midday trading on Wednesday, reaching $295.85. The company had a trading volume of 6,642,633 shares, compared to its average volume of 8,128,426. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $74.07 billion, a P/E ratio of 50.49 and a beta of 3.59. The firm has a 50-day moving average price of $290.14 and a 200-day moving average price of $232.30.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company's revenue was up 78.8% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of several recent research reports. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. JMP Securities reissued a "market outperform" rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Mizuho lifted their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a research note on Thursday, October 31st. Barclays upped their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an "equal weight" rating in a report on Monday, December 9th. Finally, Monness Crespi & Hardt boosted their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $282.83.

Insider Transactions at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares of the company's stock, valued at $35,598,033.30. This represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Friday, October 25th. The stock was 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 in the company, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,489 shares of company stock worth $111,724,097. Company insiders own 23.43% of the company's stock.

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.