Transcend Capital Advisors LLC Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Transcend Capital Advisors LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,668 shares of the cryptocurrency exchange’s stock after acquiring an additional 54 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Coinbase Global were worth $1,159,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COIN. Foundations Investment Advisors LLC increased its stake in shares of Coinbase Global by 19.3% in the third quarter. Foundations Investment Advisors LLC now owns 4,569 shares of the cryptocurrency exchange’s stock worth $814,000 after purchasing an additional 740 shares in the last quarter. Signaturefd LLC boosted its holdings in Coinbase Global by 22.7% in the 3rd quarter. Signaturefd LLC now owns 3,014 shares of the cryptocurrency exchange’s stock worth $537,000 after buying an additional 557 shares during the period. International Assets Investment Management LLC purchased a new position in Coinbase Global in the 3rd quarter valued at approximately $26,665,000. Impact Partnership Wealth LLC raised its holdings in Coinbase Global by 13.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,742 shares of the cryptocurrency exchange’s stock valued at $310,000 after acquiring an additional 201 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Coinbase Global by 36.2% during the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock worth $638,000 after acquiring an additional 952 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 8.3 %

Shares of COIN stock opened at $235.38 on Friday. The business has a 50-day moving average price of $275.76 and a two-hundred day moving average price of $239.79. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $58.93 billion, a P/E ratio of 24.78 and a beta of 3.61.

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

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.30, for a total value of $7,682,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $161,639.80. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 334,306 shares of company stock valued at $97,300,651. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COIN shares. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Mizuho reduced their target price on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, Monness Crespi & Hardt upped their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $304.50.

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.