Simon Quick Advisors LLC Purchases 166 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Simon Quick Advisors LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,122 shares of the cryptocurrency exchange’s stock after purchasing an additional 166 shares during the period. Simon Quick Advisors LLC’s holdings in Coinbase Global were worth $527,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COIN. Empowered Funds LLC raised its holdings in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares during the period. Capital Advisors Wealth Management LLC raised its stake in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after purchasing an additional 51 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in Coinbase Global by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after purchasing an additional 51 shares during the period. Finally, Brooklyn Investment Group grew its holdings in Coinbase Global by 3.9% during the 3rd quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange’s stock valued at $314,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $295.85 on Thursday. The business has a fifty day moving average of $290.36 and a 200 day moving average of $232.75. The stock has a market cap of $74.07 billion, a P/E ratio of 50.49 and a beta of 3.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the transaction, the chief operating officer now directly owns 175,101 shares in the company, valued at $35,598,033.30. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 377,489 shares of company stock valued at $111,724,097. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COIN. Barclays upped their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Needham & Company LLC raised their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler boosted their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Bank of America raised their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Monness Crespi & Hardt upped their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $282.83.

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.