Steph & Co. Acquires 150 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Steph & Co. boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300 shares of the cryptocurrency exchange’s stock after purchasing an additional 150 shares during the period. Steph & Co.’s holdings in Coinbase Global were worth $52,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fairfield Bush & CO. boosted its holdings in shares of Coinbase Global by 18.4% in the 1st quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after buying an additional 275 shares in the last quarter. United Bank purchased a new stake in shares of Coinbase Global in the 1st quarter valued at approximately $286,000. Bank of New York Mellon Corp lifted its holdings in shares of Coinbase Global by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after acquiring an additional 1,844 shares during the last quarter. American Century Companies Inc. increased its position in shares of Coinbase Global by 269.2% in the 1st quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock valued at $1,357,000 after purchasing an additional 5,211 shares during the last quarter. Finally, Synovus Financial Corp grew its position in shares of Coinbase Global by 26.6% in the 1st quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the transaction, the chief financial officer now owns 219,490 shares in the company, valued at approximately $50,142,490.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 97,836 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $131.57, for a total value of $12,872,282.52. Following the completion of the sale, the director now owns 6,072 shares in the company, valued at approximately $798,893.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 590,978 shares of company stock valued at $103,440,000. Company insiders own 33.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on COIN. JPMorgan Chase & Co. raised their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Oppenheimer increased their target price on shares of Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. HC Wainwright raised their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Wedbush raised their price target on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $163.70.

Coinbase Global Trading Up 1.5 %

Shares of COIN opened at $216.96 on Thursday. 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 $52.56 billion, a P/E ratio of 791.78 and a beta of 3.41. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48. The stock’s fifty day simple moving average is $221.60 and its 200 day simple moving average is $154.18.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.46) earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share 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.