First Horizon Advisors Inc. Purchases 100 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

First Horizon Advisors Inc. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 19.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 621 shares of the cryptocurrency exchange’s stock after buying an additional 100 shares during the period. First Horizon Advisors Inc.’s holdings in Coinbase Global were worth $154,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at approximately $409,919,000. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the last quarter. Azora Capital LP increased its position in Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after acquiring an additional 220,078 shares during the period. Holocene Advisors LP bought a new position in Coinbase Global during the third quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global during the 3rd quarter valued at $29,756,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

NASDAQ:COIN opened at $212.96 on Thursday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $54.07 billion, a PE ratio of 22.42 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company’s 50-day moving average price is $270.68 and its two-hundred day moving average price is $240.71.

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

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $305.71, for a total value of $3,057,100.00. Following the completion of the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $21,218,413.97. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,386,983.38. This represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,091 shares of company stock valued at $64,162,116. 23.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on COIN shares. HC Wainwright restated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Piper Sandler lifted their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Barclays upped their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. JMP Securities lifted their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $311.56.

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.