Avantax Advisory Services Inc. Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Avantax Advisory Services Inc. grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,430 shares of the cryptocurrency exchange’s stock after acquiring an additional 461 shares during the period. Avantax Advisory Services Inc.’s holdings in Coinbase Global were worth $852,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in shares of Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after buying an additional 40 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Coinbase Global by 27.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,235 shares of the cryptocurrency exchange’s stock worth $1,051,000 after buying an additional 908 shares during the last quarter. Windle Wealth LLC grew its stake in shares of Coinbase Global by 14.5% in the 4th quarter. Windle Wealth LLC now owns 7,868 shares of the cryptocurrency exchange’s stock worth $1,954,000 after buying an additional 996 shares during the last quarter. Clare Market Investments LLC purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $696,000. Finally, Independent Advisor Alliance grew its stake in shares of Coinbase Global by 31.9% in the 4th quarter. Independent Advisor Alliance now owns 7,488 shares of the cryptocurrency exchange’s stock worth $1,859,000 after buying an additional 1,813 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,230,728.38. The trade was a 49.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by company insiders.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $190.38 on Friday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The stock’s fifty day moving average is $248.64 and its 200 day moving average is $240.42. The stock has a market cap of $48.33 billion, a P/E ratio of 20.04 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COIN. Mizuho cut their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Piper Sandler upped their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. The Goldman Sachs Group began coverage on Coinbase Global in a research report on Thursday. They issued a “neutral” rating and a $195.00 price objective on the stock. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

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.