Strategic Planning Group LLC Buys New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Strategic Planning Group LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,828 shares of the cryptocurrency exchange's stock, valued at approximately $2,937,000.

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

Insider Buying and Selling

In related news, insider Lawrence J. Brock sold 4,635 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares of the company's stock, valued at $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $254.89, for a total value of $2,548,900.00. Following the sale, the director now directly owns 90,000 shares of the company's stock, valued at $22,940,100. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,205 shares of company stock valued at $112,487,737 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

Coinbase Global stock traded up $10.30 during mid-day trading on Thursday, reaching $301.30. 8,611,530 shares of the company were exchanged, compared to its average volume of 8,349,256. The company has a fifty day simple moving average of $288.15 and a 200-day simple moving average of $235.21. The firm has a market cap of $75.43 billion, a PE ratio of 51.42 and a beta of 3.59. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month 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.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company 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 company earned ($0.01) earnings per share. The business's revenue was up 78.8% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on COIN. Piper Sandler boosted their price target on Coinbase Global from $245.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their price target on Coinbase Global from $275.00 to $255.00 and set a "market perform" rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Monness Crespi & Hardt raised their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of "Moderate Buy" and an average price target of $289.06.

Coinbase Global 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.