Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Fiduciary Alliance LLC

Fiduciary Alliance LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,453 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,872 shares during the period. Fiduciary Alliance LLC’s holdings in Coinbase Global were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Clear Street Derivatives LLC purchased a new position in Coinbase Global in the third quarter valued at approximately $409,919,000. Renaissance Technologies LLC grew its holdings in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the period. Geode Capital Management LLC grew its holdings in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares during the period. Azora Capital LP raised its position in shares of Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $38,535,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Oppenheimer boosted their target price on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Monness Crespi & Hardt upped their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays upped their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average price target of $285.28.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $281.94, for a total value of $6,440,073.48. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. This represents a 68.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,983 shares of company stock worth $96,198,957 over the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 3.9 %

NASDAQ COIN traded down $10.16 during trading on Monday, hitting $248.62. The stock had a trading volume of 2,256,625 shares, compared to its average volume of 6,867,554. The stock has a market capitalization of $62.24 billion, a price-to-earnings ratio of 42.43 and a beta of 3.59. The stock has a 50 day simple moving average of $287.26 and a 200 day simple moving average of $229.71. Coinbase Global, Inc. has a one year low of $114.51 and a one year 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.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm posted ($0.01) earnings per share. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

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.