Sara Bay Financial Takes $230,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sara Bay Financial acquired a new stake 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 900 shares of the cryptocurrency exchange's stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global during the third quarter valued at approximately $32,000. Abich Financial Wealth Management LLC grew its stake in shares of Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange's stock valued at $48,000 after buying an additional 181 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock worth $45,000 after buying an additional 204 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Coinbase Global by 106.9% during the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock worth $74,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $13.85 on Friday, hitting $295.48. 11,250,894 shares of the company were exchanged, compared to its average volume of 6,726,179. The firm has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The company has a current ratio of 1.03, a quick 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 stock's 50 day moving average price is $291.21 and its 200 day moving average price is $231.24.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS 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 firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm posted ($0.01) EPS. The business's revenue was up 78.8% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 4.69 EPS for the current year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 74,956 shares of the company's stock, valued at $15,739,260.88. The trade was a 11.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now owns 1,160 shares in the company, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 347,033 shares of company stock worth $102,613,277. 23.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. JMP Securities reissued a "market outperform" rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Piper Sandler raised their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Bank of America boosted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Mizuho raised their price target on Coinbase Global from $160.00 to $178.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $282.83.

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.