HUB Investment Partners LLC Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

HUB Investment Partners LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,351 shares of the cryptocurrency exchange’s stock, valued at approximately $584,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. increased its stake in Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after purchasing an additional 40 shares during the period. Empowered Funds LLC grew its position in shares of Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after buying an additional 43 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC increased its holdings in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,074,056.70. This represents a 42.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a report on Thursday. They set a “neutral” rating and a $195.00 price objective on the stock. Barclays increased their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Canaccord Genuity Group lifted their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Finally, Piper Sandler increased their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Stock Down 0.3 %

COIN stock opened at $189.86 on Friday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The stock has a market capitalization of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66. The company has a 50 day moving average price of $247.26 and a two-hundred day moving average price of $240.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced 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 net margin of 39.34% and a return on equity of 20.64%. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.