Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Nilsine Partners LLC

Nilsine Partners LLC lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,910 shares of the cryptocurrency exchange’s stock after purchasing an additional 162 shares during the period. Nilsine Partners LLC’s holdings in Coinbase Global were worth $1,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its position in shares of Coinbase Global by 198.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange’s stock worth $3,380,000 after buying an additional 9,045 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Coinbase Global by 6.4% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,378 shares of the cryptocurrency exchange’s stock worth $342,000 after acquiring an additional 83 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Coinbase Global during the 4th quarter worth approximately $290,000. Flagship Harbor Advisors LLC increased its position in shares of Coinbase Global by 2.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,029 shares of the cryptocurrency exchange’s stock valued at $504,000 after purchasing an additional 56 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Coinbase Global by 224.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 661 shares of the cryptocurrency exchange’s stock valued at $164,000 after purchasing an additional 457 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on COIN. Barclays increased their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Piper Sandler boosted their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. 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 company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $282.83.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,489 shares of company stock valued at $109,624,297. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 6.8 %

Coinbase Global stock opened at $277.68 on Tuesday. The stock’s 50 day moving average price is $289.59 and its 200 day moving average price is $234.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $69.52 billion, a PE ratio of 47.39 and a beta of 3.59. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.81 EPS 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.