Farther Finance Advisors LLC Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Farther Finance Advisors LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 44.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,390 shares of the cryptocurrency exchange’s stock after buying an additional 426 shares during the period. Farther Finance Advisors LLC’s holdings in Coinbase Global were worth $243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the fourth quarter worth $25,000. Copia Wealth Management bought a new stake in shares of Coinbase Global in the fourth quarter worth $26,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Coinbase Global in the fourth quarter worth $35,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Coinbase Global in the fourth quarter worth $37,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $295.29 on Thursday. The firm has a 50-day moving average price of $227.26 and a 200 day moving average price of $241.11. The firm has a market capitalization of $74.97 billion, a PE ratio of 55.30, a P/E/G ratio of 18.50 and a beta of 3.61. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company earned $2.53 EPS. The business’s quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at $16,505,971.56. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 228,538 shares of company stock valued at $51,299,116. 17.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COIN shares. Piper Sandler lifted their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Needham & Company LLC lowered their target price on shares of Coinbase Global from $330.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, May 12th. JMP Securities reiterated a “market outperform” rating and set a $400.00 target price on shares of Coinbase Global in a research note on Thursday, May 8th. HC Wainwright reiterated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Finally, Citigroup reiterated a “neutral” rating on shares of Coinbase Global in a research note on Thursday, May 8th. Eleven research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $271.88.

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.