Oak Thistle LLC Acquires New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Oak Thistle LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,181 shares of the cryptocurrency exchange’s stock, valued at approximately $1,286,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in Coinbase Global in the 3rd quarter valued at $32,000. Brown Brothers Harriman & Co. grew its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after purchasing an additional 181 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Coinbase Global in the third quarter worth $55,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now owns 74,956 shares in the company, valued at approximately $15,739,260.88. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,333 shares of company stock valued at $95,092,118. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COIN shares. Needham & Company LLC boosted their target price on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Oppenheimer upped their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Monness Crespi & Hardt increased their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Piper Sandler lifted their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. One 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, the stock presently has an average rating of “Hold” and an average price target of $284.17.

Coinbase Global Trading Up 1.7 %

COIN opened at $255.37 on Wednesday. The firm has a market capitalization of $63.93 billion, a price-to-earnings ratio of 43.58 and a beta of 3.59. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75. The business has a 50 day simple moving average of $289.78 and a two-hundred day simple moving average of $230.14. 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) last announced 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). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. Analysts predict that Coinbase Global, Inc. will post 4.44 EPS 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.