Sequoia Financial Advisors LLC Purchases New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Sequoia Financial Advisors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,170 shares of the cryptocurrency exchange’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the last quarter. Mariner LLC increased its stake in Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after acquiring an additional 4,259 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after acquiring an additional 125 shares during the last quarter. Oak Thistle LLC acquired a new stake in Coinbase Global during the fourth quarter worth $1,035,000. Finally, Barclays PLC increased its stake in Coinbase Global by 41.5% during the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock worth $30,394,000 after acquiring an additional 118,670 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COIN shares. The Goldman Sachs Group raised Coinbase Global from a “sell” rating to a “neutral” rating in a research note on Friday, March 8th. Mizuho lifted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a research note on Thursday, March 28th. Finally, Citigroup lifted their price objective on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $163.70.

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $256.19, for a total value of $4,196,392.20. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $1,194,357.78. The disclosure for this sale can be found here. Insiders sold 562,203 shares of company stock valued at $96,530,482 in the last ninety days. Insiders own 33.16% of the company’s stock.

Coinbase Global Stock Down 2.1 %

Shares of NASDAQ COIN opened at $218.83 on Wednesday. The company has a market capitalization of $53.02 billion, a price-to-earnings ratio of 810.48 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average of $219.76 and a two-hundred day moving average of $153.77. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. Coinbase Global’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period in the previous year, the business earned ($2.46) EPS. On average, analysts forecast that Coinbase Global, Inc. will post 2.43 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.