Larson Financial Group LLC Has $189,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Larson Financial Group LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 43.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 760 shares of the cryptocurrency exchange’s stock after acquiring an additional 229 shares during the period. Larson Financial Group LLC’s holdings in Coinbase Global were worth $189,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Intellectus Partners LLC lifted its position in shares of Coinbase Global by 3.8% during the 4th quarter. Intellectus Partners LLC now owns 4,755 shares of the cryptocurrency exchange’s stock valued at $1,181,000 after acquiring an additional 175 shares during the period. AMF Tjanstepension AB acquired a new position in shares of Coinbase Global during the 4th quarter valued at $4,638,000. PNC Financial Services Group Inc. increased its stake in Coinbase Global by 10.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,091 shares of the cryptocurrency exchange’s stock valued at $3,747,000 after purchasing an additional 1,469 shares in the last quarter. Banco Santander S.A. increased its stake in Coinbase Global by 26.3% during the 4th quarter. Banco Santander S.A. now owns 188,142 shares of the cryptocurrency exchange’s stock valued at $46,716,000 after purchasing an additional 39,236 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Coinbase Global by 15.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,626 shares of the cryptocurrency exchange’s stock valued at $2,912,000 after purchasing an additional 1,427 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This represents a 52.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group decreased their price target 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. HC Wainwright restated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $307.89.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $191.69 on Wednesday. The company’s 50-day moving average is $259.55 and its 200 day moving average is $241.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $48.67 billion, a P/E ratio of 20.18 and a beta of 3.66. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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 forecast that Coinbase Global, Inc. will post 7.22 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.