1,335 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Crestone Asset Management LLC

Crestone Asset Management LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,335 shares of the cryptocurrency exchange’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates grew its stake in Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after acquiring an additional 9,564 shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $302,000. Mariner LLC boosted its holdings in Coinbase Global by 5.4% in the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after purchasing an additional 4,259 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after buying an additional 125 shares during the last quarter. Finally, Oak Thistle LLC bought a new position in Coinbase Global during the fourth quarter valued at about $1,035,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

NASDAQ:COIN traded down $3.14 during mid-day trading on Wednesday, reaching $211.20. 4,578,107 shares of the company were exchanged, compared to its average volume of 13,136,091. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The stock has a market cap of $51.17 billion, a PE ratio of 42.79 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $237.33 and a 200 day moving average of $169.13.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Coinbase Global’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.46) EPS. On average, research analysts anticipate that Coinbase Global, Inc. will post 2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on COIN. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Oppenheimer upped their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Citigroup lifted their price objective on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Sanford C. Bernstein increased their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Finally, Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $193.85.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $147.03, for a total transaction of $3,392,717.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the sale, the chief financial officer now owns 219,490 shares in the company, valued at $50,142,490.50. The disclosure for this sale can be found here. Insiders have sold 361,542 shares of company stock valued at $81,392,237 over the last 90 days. 33.16% of the stock is owned by company insiders.

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.