AdvisorNet Financial Inc Purchases 68 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

AdvisorNet Financial Inc boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,469 shares of the cryptocurrency exchange’s stock after buying an additional 68 shares during the period. AdvisorNet Financial Inc’s holdings in Coinbase Global were worth $861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of COIN. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the third quarter worth $409,919,000. Geode Capital Management LLC boosted its holdings in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Azora Capital LP grew its position in shares of Coinbase Global by 214.1% during the third 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 in the last quarter. Holocene Advisors LP bought a new stake in shares of Coinbase Global in the third quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global in the third quarter worth about $29,756,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

COIN opened at $274.89 on Thursday. The business has a fifty day moving average of $289.78 and a 200 day moving average of $230.14. The stock has a market cap of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.57. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COIN. The Goldman Sachs Group reduced their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Mizuho lifted their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $284.17.

Insider Activity at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the transaction, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the sale, the insider now owns 18,525 shares of the company’s stock, valued at $4,631,250. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,333 shares of company stock worth $95,092,118 in the last 90 days. 23.43% of the stock is owned by corporate insiders.

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.