Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 9.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,265 shares of the cryptocurrency exchange’s stock after acquiring an additional 7,597 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Coinbase Global were worth $22,413,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the third quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in Coinbase Global during the third quarter valued at approximately $32,000. Abich Financial Wealth Management LLC increased its stake in Coinbase Global by 548.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after buying an additional 181 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Oppenheimer dropped their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC lifted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Monness Crespi & Hardt increased their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $282.83.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the sale, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,489 shares of company stock worth $109,624,297. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Up 3.2 %

Shares of NASDAQ COIN opened at $305.34 on Friday. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day moving average of $290.70 and a two-hundred day moving average of $233.19. The stock has a market cap of $76.44 billion, a PE ratio of 51.80 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

About Coinbase Global

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.