Transcend Capital Advisors LLC Buys 54 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Transcend Capital Advisors LLC grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,668 shares of the cryptocurrency exchange’s stock after purchasing an additional 54 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Coinbase Global were worth $1,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Clear Street Derivatives LLC bought a new position in Coinbase Global during the third quarter worth $409,919,000. Geode Capital Management LLC raised its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Azora Capital LP lifted its stake in shares of Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the period. Holocene Advisors LP bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $29,756,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 334,306 shares of company stock valued at $97,300,651. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays boosted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, HC Wainwright restated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.50.

Coinbase Global Stock Performance

Shares of COIN stock opened at $235.38 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a 50-day moving average of $275.76 and a 200-day moving average of $239.79. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a market cap of $58.93 billion, a P/E ratio of 24.78 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 net margin of 39.34% and a return on equity of 20.64%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.