TCG Advisory Services LLC Buys Shares of 1,734 Coinbase Global, Inc. (NASDAQ:COIN)

TCG Advisory Services LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,734 shares of the cryptocurrency exchange’s stock, valued at approximately $302,000.

A number of other institutional investors have also made changes to their positions in the business. Raymond James & Associates increased its holdings in Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the period. Masso Torrence Wealth Management Inc. bought a new stake in Coinbase Global in the fourth quarter worth $302,000. Mariner LLC lifted its stake in Coinbase Global by 5.4% in the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after acquiring an additional 4,259 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after acquiring an additional 125 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Coinbase Global during the fourth quarter worth $1,035,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on COIN shares. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Sanford C. Bernstein raised their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Canaccord Genuity Group boosted their target price on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $192.60.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the transaction, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock valued at $86,053,862 over the last three months. Company insiders own 33.16% of the company’s stock.

Coinbase Global Stock Up 3.4 %

Shares of Coinbase Global stock traded up $7.55 on Monday, reaching $230.80. The stock had a trading volume of 4,166,212 shares, compared to its average volume of 13,220,293. The company has a 50 day moving average price of $236.37 and a 200 day moving average price of $167.06. The stock has a market capitalization of $55.92 billion, a P/E ratio of 44.56 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.46) EPS. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 2.71 EPS for the current year.

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.