Great Valley Advisor Group Inc. Increases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Great Valley Advisor Group Inc. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,691 shares of the cryptocurrency exchange’s stock after buying an additional 301 shares during the period. Great Valley Advisor Group Inc.’s holdings in Coinbase Global were worth $1,338,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COIN. Morgan Stanley boosted its position in Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Coinbase Global by 142.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares during the period. International Assets Investment Management LLC purchased a new stake in Coinbase Global during the 4th quarter valued at $34,422,000. Vanguard Group Inc. boosted its position in Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after buying an additional 176,525 shares during the period. Finally, Barclays PLC raised its holdings in Coinbase Global by 41.5% in the 3rd quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock worth $30,394,000 after purchasing an additional 118,670 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 2.4 %

NASDAQ:COIN opened at $223.25 on Friday. The firm has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The firm has a 50-day simple moving average of $236.37 and a two-hundred day simple moving average of $165.79.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the business earned ($2.46) EPS. Analysts predict that Coinbase Global, Inc. will post 2.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays upped their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Friday. Finally, The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a report on Friday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $185.48.

Insider Activity

In other news, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Paul Grewal sold 42,113 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 219,490 shares in the company, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. Insiders have sold a total of 420,597 shares of company stock valued at $86,053,862 in the last 90 days. 33.16% of the stock is currently owned by insiders.

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.