R Squared Ltd Invests $99,000 in Coinbase Global, Inc. (NASDAQ:COIN)

R Squared Ltd acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 400 shares of the cryptocurrency exchange’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tamar Securities LLC bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $312,000. Perigon Wealth Management LLC grew its position in Coinbase Global by 3.8% in the fourth quarter. Perigon Wealth Management LLC now owns 7,761 shares of the cryptocurrency exchange’s stock valued at $1,927,000 after purchasing an additional 283 shares in the last quarter. Nilsine Partners LLC increased its stake in Coinbase Global by 2.4% in the 4th quarter. Nilsine Partners LLC now owns 6,910 shares of the cryptocurrency exchange’s stock valued at $1,716,000 after buying an additional 162 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Coinbase Global by 198.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange’s stock worth $3,380,000 after buying an additional 9,045 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of Coinbase Global by 6.4% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,378 shares of the cryptocurrency exchange’s stock worth $342,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $301.30 on Friday. The firm has a 50-day moving average price of $288.26 and a two-hundred day moving average price of $235.66. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a market capitalization of $75.43 billion, a P/E ratio of 51.42 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 (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% on a year-over-year basis. Analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the sale, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,205 shares of company stock valued at $112,487,737 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. The Goldman Sachs Group dropped their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $250.00 to $290.00 in a report on Wednesday. Needham & Company LLC boosted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $289.06.

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.