Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,531 shares of the cryptocurrency exchange’s stock after acquiring an additional 93 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Coinbase Global were worth $628,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its stake in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 40 shares during the last quarter. Farther Finance Advisors LLC increased its position in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares during the last quarter. Yousif Capital Management LLC raised its stake in Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after purchasing an additional 44 shares during the period. Capital Advisors Wealth Management LLC raised its stake in Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 45 shares during the period. Finally, IPG Investment Advisors LLC boosted its holdings in Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $3,114,162.15. This represents a 70.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,067 shares of company stock valued at $49,486,825. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

Coinbase Global stock opened at $172.21 on Thursday. 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 company has a fifty day simple moving average of $204.11 and a 200-day simple moving average of $241.35. The stock has a market cap of $43.72 billion, a P/E ratio of 18.13 and a beta of 3.65. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Barclays decreased their price target on Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective on the stock. Finally, JMP Securities lowered their target price on shares of Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $298.74.

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.