HBK Sorce Advisory LLC Makes New $205,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

HBK Sorce Advisory LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 824 shares of the cryptocurrency exchange’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. Principal Financial Group Inc. raised its position in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Coinbase Global by 76.6% in the third quarter. Assetmark Inc. now owns 2,879 shares of the cryptocurrency exchange’s stock valued at $513,000 after purchasing an additional 1,249 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Coinbase Global by 12.6% in the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock valued at $276,000 after purchasing an additional 173 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Coinbase Global by 8.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock valued at $265,000 after purchasing an additional 110 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of Coinbase Global by 8.9% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,307 shares of the cryptocurrency exchange’s stock valued at $233,000 after purchasing an additional 107 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COIN shares. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Mizuho decreased their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Barclays upped their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $316.67.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. This trade represents a 49.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Up 3.2 %

Shares of Coinbase Global stock opened at $183.12 on Friday. The company has a market capitalization of $46.49 billion, a price-to-earnings ratio of 19.28 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The firm’s 50-day moving average price is $255.08 and its two-hundred day moving average price is $240.79.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.