MIG Capital LLC Invests $304,000 in Coinbase Global, Inc. (NASDAQ:COIN)

MIG Capital LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,225 shares of the cryptocurrency exchange’s stock, valued at approximately $304,000.

Several other large investors have also recently added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. Atala Financial Inc purchased a new position in Coinbase Global in the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its position in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $50,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,609 shares of company stock worth $52,238,258. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. The Goldman Sachs Group began coverage on Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. Finally, Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Stock Down 6.0 %

COIN opened at $160.55 on Friday. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a market capitalization of $40.76 billion, a P/E ratio of 16.90 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm’s fifty day moving average price is $226.99 and its two-hundred day moving average price is $242.60.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.