SRN Advisors LLC Has $1.49 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

SRN Advisors LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 39.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,013 shares of the cryptocurrency exchange’s stock after selling 4,000 shares during the quarter. Coinbase Global comprises approximately 1.3% of SRN Advisors LLC’s holdings, making the stock its 15th largest position. SRN Advisors LLC’s holdings in Coinbase Global were worth $1,493,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COIN. Assenagon Asset Management S.A. grew its position in shares of Coinbase Global by 36.2% in the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after purchasing an additional 952 shares during the last quarter. PFG Investments LLC boosted its stake in Coinbase Global by 65.2% in the third quarter. PFG Investments LLC now owns 1,900 shares of the cryptocurrency exchange’s stock worth $339,000 after purchasing an additional 750 shares in the last quarter. abrdn plc grew its holdings in shares of Coinbase Global by 625.1% during the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock worth $6,198,000 after purchasing an additional 29,990 shares during the last quarter. Integrated Advisors Network LLC increased its stake in shares of Coinbase Global by 104.4% in the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after buying an additional 1,005 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in shares of Coinbase Global by 16,928.6% in the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock valued at $637,000 after buying an additional 3,555 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

COIN opened at $212.96 on Thursday. The stock has a market cap of $54.07 billion, a P/E ratio of 22.42 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $270.68 and a 200 day simple moving average of $240.71.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Barclays upped their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group lifted their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $311.56.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $144,786.76. This represents a 97.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,074,056.70. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 226,091 shares of company stock valued at $64,162,116. 23.43% of the stock is owned by corporate insiders.

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.