HBK Sorce Advisory LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

HBK Sorce Advisory LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 824 shares of the cryptocurrency exchange’s stock, valued at approximately $205,000.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth about $50,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $183.12 on Friday. 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, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The firm’s 50 day moving average price is $255.08 and its two-hundred day moving average price is $240.79. The firm has a market cap of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 over the last 90 days. 23.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COIN shares. Barclays lifted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Mizuho lowered their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $316.67.

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.