Sigma Planning Corp Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sigma Planning Corp bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, Holdings Channel.com reports. The firm bought 1,316 shares of the cryptocurrency exchange’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also bought and sold shares of COIN. Morgan Stanley lifted its holdings in Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Coinbase Global by 142.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock worth $55,047,000 after buying an additional 430,546 shares during the period. International Assets Investment Management LLC purchased a new stake in Coinbase Global in the 4th quarter worth approximately $34,422,000. Vanguard Group Inc. raised its position in shares of Coinbase Global by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock worth $1,041,602,000 after acquiring an additional 176,525 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Coinbase Global by 41.5% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $236.32 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $57.25 billion, a P/E ratio of 875.26 and a beta of 3.41. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The business’s 50-day moving average is $231.74 and its 200 day moving average is $162.07.

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

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares in the company, valued at $29,333,751.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $232.37, for a total value of $3,806,220.60. Following the sale, the director now directly owns 4,662 shares in the company, valued at $1,083,308.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Emilie Choi sold 700 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total value of $91,203.00. Following the completion of the sale, the chief operating officer now owns 225,142 shares in the company, valued at $29,333,751.18. The disclosure for this sale can be found here. Insiders have sold a total of 532,208 shares of company stock worth $99,652,403 over the last ninety days. Company insiders own 33.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on COIN shares. Keefe, Bruyette & Woods increased their target price on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Needham & Company LLC increased their target price on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a report on Thursday, March 28th. Finally, Wedbush raised their price target on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.43.

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.