Syon Capital LLC Purchases New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Syon Capital LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,659 shares of the cryptocurrency exchange’s stock, valued at approximately $289,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fountainhead AM LLC increased its position in Coinbase Global by 2.1% in the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after acquiring an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after purchasing an additional 81 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Coinbase Global by 2.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after purchasing an additional 90 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Coinbase Global by 34.5% in the 4th quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock valued at $61,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COIN. Oppenheimer lifted their price objective on Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Piper Sandler lifted their price objective on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a report on Thursday, March 28th. Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. Finally, HC Wainwright lifted their price objective on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $165.43.

Coinbase Global Price Performance

COIN stock opened at $236.32 on Friday. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average price is $231.74 and its 200 day moving average price is $161.48. The firm has a market cap of $57.25 billion, a P/E ratio of 875.26 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. Coinbase Global’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.46) EPS. On average, sell-side analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the completion of the transaction, the chief operating officer now directly owns 233,142 shares in the company, valued at approximately $30,147,592.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the completion of the transaction, the chief operating officer now directly owns 233,142 shares in the company, valued at approximately $30,147,592.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at $4,933,575. The disclosure for this sale can be found here. In the last three months, insiders sold 532,208 shares of company stock worth $99,652,403. Insiders own 33.16% of the company’s stock.

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.