Focus Financial Network Inc. Grows Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Focus Financial Network Inc. boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,939 shares of the cryptocurrency exchange’s stock after buying an additional 550 shares during the quarter. Focus Financial Network Inc.’s holdings in Coinbase Global were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Soltis Investment Advisors LLC purchased a new stake in Coinbase Global in the fourth quarter worth $1,426,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global in the fourth quarter valued at $27,000. Savant Capital LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at $591,000. Focused Wealth Management Inc purchased a new position in shares of Coinbase Global in the fourth quarter valued at $227,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Coinbase Global by 44.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 631 shares of the cryptocurrency exchange’s stock valued at $157,000 after purchasing an additional 195 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $144,786.76. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 26,649 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $308.14, for a total value of $8,211,622.86. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,209,894.38. This trade represents a 71.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 386,798 shares of company stock valued at $114,707,944. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 8.4 %

Shares of COIN stock opened at $298.11 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $282.36 and a two-hundred day moving average price of $237.88. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The firm has a market cap of $74.63 billion, a P/E ratio of 50.87 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Equities analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on COIN shares. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. HC Wainwright lifted their price target on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer reduced their price target on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, Barclays lifted their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $286.00.

Coinbase Global Company 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.