Callan Family Office LLC Acquires New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Callan Family Office LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,754 shares of the cryptocurrency exchange’s stock, valued at approximately $436,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. SOA Wealth Advisors LLC. raised its position in shares of Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after buying an additional 40 shares during the last quarter. Empowered Funds LLC raised its holdings in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Coinbase Global by 1.7% during the 4th 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 boosted its holdings in shares of 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 last quarter. Finally, Pallas Capital Advisors LLC increased its stake in Coinbase Global by 2.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after purchasing an additional 51 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Mizuho decreased their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Finally, Rosenblatt Securities began coverage on Coinbase Global in a report on Friday. They set a “buy” rating and a $305.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average price target of $311.21.

Coinbase Global Trading Up 1.5 %

NASDAQ COIN opened at $217.45 on Monday. The stock has a market cap of $55.21 billion, a P/E ratio of 22.89 and a beta of 3.66. The company’s fifty day simple moving average is $262.21 and its 200-day simple moving average is $241.70. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75.

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

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by corporate 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.