Fulton Bank N.A. Raises Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Fulton Bank N.A. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,512 shares of the cryptocurrency exchange’s stock after buying an additional 87 shares during the quarter. Fulton Bank N.A.’s holdings in Coinbase Global were worth $1,369,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banco Santander S.A. grew its position in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Coinbase Global during the third quarter worth $29,756,000. Lindbrook Capital LLC lifted its holdings in shares of Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter worth $2,908,000. 68.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the transaction, the director now owns 10,417 shares in the company, valued at $2,936,968.98. This trade represents a 68.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,483 shares of company stock worth $96,470,997 in the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 1.6 %

Coinbase Global stock opened at $260.01 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market cap of $65.09 billion, a PE ratio of 44.37 and a beta of 3.59. The stock’s 50 day simple moving average is $284.12 and its two-hundred day simple moving average is $229.01. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. Analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of a number of research analyst reports. Needham & Company LLC increased their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Piper Sandler lifted their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $288.44.

Coinbase Global Profile

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.