1,250 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Main Street Research LLC

Main Street Research LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,250 shares of the cryptocurrency exchange’s stock, valued at approximately $217,000.

Several other hedge funds also recently bought and sold shares of COIN. Raymond James & Associates boosted its holdings in shares of Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after purchasing an additional 9,564 shares during the last quarter. Mariner LLC boosted its holdings in shares of Coinbase Global by 5.4% during the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after purchasing an additional 4,259 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Coinbase Global by 10.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after purchasing an additional 125 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Coinbase Global during the 4th quarter valued at about $1,035,000. Finally, Barclays PLC boosted its holdings in shares of Coinbase Global by 41.5% during the 3rd quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after purchasing an additional 118,670 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COIN shares. Citigroup increased their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Barclays increased their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research report on Monday, April 8th. Wedbush increased their price objective on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Bank of America increased their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $163.70.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the transaction, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.29, for a total value of $9,888,773.70. Following the sale, the director now owns 120,214 shares in the company, valued at $14,580,756.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the completion of the sale, the insider now owns 61,665 shares in the company, valued at approximately $7,462,698.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 660,039 shares of company stock valued at $109,435,051. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded down $10.82 on Tuesday, hitting $212.59. 12,902,366 shares of the company were exchanged, compared to its average volume of 14,051,439. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The stock’s 50 day moving average price is $217.78 and its 200 day moving average price is $152.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $51.50 billion, a P/E ratio of 777.00 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter last year, the company posted ($2.46) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 2.43 EPS for the current 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.