Sequoia Financial Advisors LLC Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sequoia Financial Advisors LLC boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 27.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,235 shares of the cryptocurrency exchange’s stock after purchasing an additional 908 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coinbase Global were worth $1,051,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of COIN. Banco Santander S.A. boosted its stake in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares during the period. Wellington Management Group LLP boosted its position in Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after buying an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth $252,000. Virtu Financial LLC purchased a new stake in shares of Coinbase Global during the third quarter worth $3,866,000. Finally, Blueshift Asset Management LLC raised its stake in shares of Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock valued at $3,359,000 after acquiring an additional 16,998 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JMP Securities upped their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Piper Sandler raised 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. Bank of America decreased their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Rosenblatt Securities began coverage on shares of Coinbase Global in a report on Friday, March 7th. They issued a “buy” rating and a $305.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.67.

Coinbase Global Trading Up 3.2 %

NASDAQ COIN opened at $183.12 on Friday. The firm’s fifty day moving average is $255.08 and its two-hundred day moving average is $240.79. Coinbase Global, Inc. has a one year low of $146.12 and a one year 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 firm has a market cap of $46.49 billion, a PE ratio of 19.28 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. Analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by company 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.