Dynamic Advisor Solutions LLC Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Dynamic Advisor Solutions LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 858 shares of the cryptocurrency exchange’s stock, valued at approximately $213,000.

Several other large investors have also bought and sold shares of COIN. Sei Investments Co. raised its position in shares of Coinbase Global by 22.3% during the 2nd quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after acquiring an additional 2,212 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Coinbase Global by 103.8% in the 2nd quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock worth $6,829,000 after purchasing an additional 15,652 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Coinbase Global by 639.4% during the second quarter. Mackenzie Financial Corp now owns 9,205 shares of the cryptocurrency exchange’s stock worth $2,046,000 after purchasing an additional 7,960 shares during the period. Creative Planning increased its holdings in Coinbase Global by 20.0% in the second quarter. Creative Planning now owns 50,210 shares of the cryptocurrency exchange’s stock valued at $11,158,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Coinbase Global by 3.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,373 shares of the cryptocurrency exchange’s stock valued at $8,528,000 after buying an additional 1,137 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler upped their price target on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Barclays lifted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. B. Riley initiated 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. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $282.83.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the sale, the chief operating officer now owns 175,101 shares in the company, valued at approximately $35,598,033.30. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the completion of the transaction, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 377,705 shares of company stock worth $112,792,687. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of COIN opened at $281.82 on Wednesday. The company has a market cap of $70.55 billion, a PE ratio of 48.09 and a beta of 3.59. The firm has a 50-day moving average of $288.73 and a 200-day moving average of $234.81. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75. 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 (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, equities analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share 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.