Coinbase Global, Inc. (NASDAQ:COIN) Stake Raised by Sigma Planning Corp

Sigma Planning Corp grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 162.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,508 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,172 shares during the period. Sigma Planning Corp’s holdings in Coinbase Global were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Matauro LLC acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $235,000. Transcend Capital Advisors LLC increased its holdings in shares of Coinbase Global by 1.2% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange’s stock valued at $1,159,000 after buying an additional 54 shares in the last quarter. O Neil Global Advisors Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $869,000. Meitav Investment House Ltd. bought a new stake in shares of Coinbase Global during the 4th quarter worth $298,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Coinbase Global by 85.3% in the 4th quarter. Handelsbanken Fonder AB now owns 70,649 shares of the cryptocurrency exchange’s stock worth $17,542,000 after acquiring an additional 32,518 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Bank of America reduced their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

Coinbase Global Stock Down 6.2 %

Shares of Coinbase Global stock opened at $213.09 on Wednesday. The firm has a market cap of $54.10 billion, a price-to-earnings ratio of 22.43 and a beta of 3.61. The stock has a 50-day simple moving average of $272.02 and a 200-day simple moving average of $240.90. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) 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, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,091 shares of company stock valued at $64,162,116. Insiders own 23.43% of the company’s stock.

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.