Stephens Inc. AR Buys New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Stephens Inc. AR purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,050 shares of the cryptocurrency exchange’s stock, valued at approximately $261,000.

A number of other large investors have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its position in shares of 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 in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter valued at about $25,000. Spirit of America Management Corp NY boosted its holdings in Coinbase Global by 66.7% in the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after acquiring an additional 100 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the last quarter. Finally, SOA Wealth Advisors LLC. grew its stake in shares of Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 40 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the transaction, the chief operating officer now owns 177,576 shares in the company, valued at $52,972,696.56. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,529 shares of company stock worth $95,595,712 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COIN shares. Canaccord Genuity Group increased their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. HC Wainwright raised their price target on shares of Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Piper Sandler boosted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday. Monness Crespi & Hardt raised their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. Nine 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 target price of $301.17.

Coinbase Global Price Performance

NASDAQ:COIN opened at $274.31 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day moving average price of $280.97 and a 200-day moving average price of $238.36. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The firm has a market cap of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 29.76% and a return on equity of 14.81%. Equities research analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current year.

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.