Steph & Co. Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Steph & Co. increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 100.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 300 shares of the cryptocurrency exchange’s stock after purchasing an additional 150 shares during the quarter. Steph & Co.’s holdings in Coinbase Global were worth $52,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new position in Coinbase Global in the fourth quarter valued at $2,764,000. Macroview Investment Management LLC purchased a new stake in Coinbase Global during the fourth quarter worth about $59,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Coinbase Global by 0.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,344 shares of the cryptocurrency exchange’s stock worth $13,278,000 after buying an additional 538 shares in the last quarter. Main Street Research LLC purchased a new stake in Coinbase Global during the fourth quarter worth about $217,000. Finally, Strs Ohio purchased a new stake in Coinbase Global during the fourth quarter worth about $765,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Up 1.5 %

NASDAQ:COIN opened at $216.96 on Thursday. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. 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 stock has a market capitalization of $52.56 billion, a PE ratio of 791.78 and a beta of 3.41. The business’s 50-day simple moving average is $221.60 and its 200-day simple moving average is $154.18.

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

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 97,836 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $131.57, for a total value of $12,872,282.52. Following the sale, the director now owns 6,072 shares of the company’s stock, valued at $798,893.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 590,978 shares of company stock valued at $103,440,000. 33.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on COIN shares. Citigroup boosted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Oppenheimer upped their price target on shares of Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Piper Sandler upped their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $163.70.

About Coinbase Global

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.