Dakota Wealth Management Purchases Shares of 2,050 Coinbase Global, Inc. (NASDAQ:COIN)

Dakota Wealth Management acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,050 shares of the cryptocurrency exchange’s stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Banco Santander S.A. lifted its stake 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 valued at $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC grew its stake in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global in the third quarter worth $29,756,000. Lindbrook Capital LLC raised its stake in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Coinbase Global during the 2nd quarter valued at $2,908,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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 owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 367,489 shares of company stock worth $109,624,297. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on COIN shares. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Mizuho boosted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, Piper Sandler raised their price target 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $282.83.

Coinbase Global Stock Up 0.7 %

COIN stock opened at $298.00 on Friday. The firm has a fifty day moving average price of $290.54 and a two-hundred day moving average price of $233.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The firm has a market cap of $74.60 billion, a price-to-earnings ratio of 50.85 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned ($0.01) EPS. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. Research analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current year.

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.