Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by IFP Advisors Inc

IFP Advisors Inc increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 297.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,080 shares of the cryptocurrency exchange’s stock after buying an additional 5,300 shares during the quarter. IFP Advisors Inc’s holdings in Coinbase Global were worth $1,758,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised 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 worth $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the period. Clear Street Derivatives LLC acquired a new position in Coinbase Global in the 3rd quarter worth about $409,919,000. Charles Schwab Investment Management Inc. raised its holdings in Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after purchasing an additional 52,856 shares during the period. Finally, Ribbit Management Company LLC raised its holdings in Coinbase Global by 4.7% in the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after purchasing an additional 17,650 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 6.2 %

Shares of Coinbase Global stock opened at $213.09 on Wednesday. The firm has a market capitalization of $54.10 billion, a price-to-earnings ratio of 22.43 and a beta of 3.61. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day moving average of $272.02 and a 200 day moving average of $240.90.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the transaction, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 226,091 shares of company stock worth $64,162,116. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on COIN shares. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America cut their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays boosted their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, JMP Securities boosted their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $311.56.

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.