Orion Portfolio Solutions LLC Increases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Orion Portfolio Solutions LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 64.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,023 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,918 shares during the period. Orion Portfolio Solutions LLC’s holdings in Coinbase Global were worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global in the fourth quarter worth about $27,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Coinbase Global during the fourth quarter valued at approximately $50,000. Finally, Bogart Wealth LLC increased its holdings in Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $174.52 on Wednesday. The company has a current ratio of 2.28, a quick 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 stock has a 50 day moving average of $234.50 and a 200 day moving average of $242.97. The firm has a market cap of $44.31 billion, a PE ratio of 18.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COIN. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective for the company. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group raised their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.72.

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at $22,973,200. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,609 shares of company stock valued at $61,331,908 in the last three months. Corporate insiders own 23.43% of the company’s stock.

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.