Flagship Harbor Advisors LLC Buys 56 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Flagship Harbor Advisors LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,029 shares of the cryptocurrency exchange’s stock after acquiring an additional 56 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Coinbase Global were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in Coinbase Global in the 3rd quarter worth $32,000. Brown Brothers Harriman & Co. increased its stake in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after acquiring an additional 154 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $281.82 on Wednesday. The firm has a market capitalization of $70.55 billion, a PE ratio of 48.09 and a beta of 3.59. The stock’s fifty day moving average is $288.73 and its 200 day moving average is $234.81. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted ($0.01) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Piper Sandler increased their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays raised their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, Monness Crespi & Hardt boosted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $282.83.

Insider Buying and Selling

In other news, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the completion of the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 377,705 shares of company stock valued at $112,792,687 in the last ninety days. 23.43% of the stock is owned by company insiders.

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.