Kovack Advisors Inc. Takes $666,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Kovack Advisors Inc. acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,681 shares of the cryptocurrency exchange’s stock, valued at approximately $666,000.

Other large investors have also recently bought and sold shares of the company. Banco Santander S.A. lifted its stake in Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after acquiring an additional 16,737 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global during the third quarter worth $29,756,000. Lindbrook Capital LLC lifted its position in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Wellington Management Group LLP lifted its position in Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after purchasing an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in Coinbase Global by 237.5% in the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after purchasing an additional 23,040 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,386,983.38. This represents a 42.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $305.71, for a total value of $3,057,100.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at approximately $21,218,413.97. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,069 shares of company stock valued at $66,488,684 in the last 90 days. 23.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. Finally, Piper Sandler increased their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Coinbase Global Trading Down 2.2 %

COIN stock opened at $208.37 on Friday. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The business’s 50-day moving average is $269.37 and its 200 day moving average is $240.48. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $52.90 billion, a price-to-earnings ratio of 21.93 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.