Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Fiduciary Alliance LLC

Fiduciary Alliance LLC grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 19.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,453 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,872 shares during the period. Fiduciary Alliance LLC’s holdings in Coinbase Global were worth $2,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in COIN. Los Angeles Capital Management LLC raised its position in Coinbase Global by 24.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,376 shares of the cryptocurrency exchange’s stock valued at $306,000 after acquiring an additional 268 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Coinbase Global in the second quarter worth $422,000. Quest Partners LLC grew its stake in shares of Coinbase Global by 233.7% in the second quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 208 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Coinbase Global in the second quarter worth $210,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Coinbase Global by 12.7% during the second quarter. Oppenheimer & Co. Inc. now owns 7,794 shares of the cryptocurrency exchange’s stock worth $1,732,000 after buying an additional 881 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock in a transaction on Monday, January 6th. The shares were sold at an average price of $281.94, for a total value of $6,440,073.48. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. The trade was a 68.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,983 shares of company stock worth $96,198,957 in the last quarter. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Down 3.9 %

COIN stock traded down $10.16 during midday trading on Monday, hitting $248.62. 2,256,625 shares of the company’s stock were exchanged, compared to its average volume of 6,867,554. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $62.24 billion, a price-to-earnings ratio of 42.43 and a beta of 3.59. The firm has a 50 day moving average price of $287.26 and a 200-day moving average price of $229.71.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted ($0.01) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. On average, analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COIN. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $285.28.

Coinbase Global Company 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.