Sequoia Financial Advisors LLC Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Sequoia Financial Advisors LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 27.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,235 shares of the cryptocurrency exchange’s stock after buying an additional 908 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coinbase Global were worth $1,051,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of COIN. SOA Wealth Advisors LLC. boosted its holdings in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares during the period. Yousif Capital Management LLC boosted its stake in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC grew its holdings in Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares during the period. Finally, Pallas Capital Advisors LLC raised its position in Coinbase Global by 2.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.2 %

COIN opened at $183.12 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company’s 50 day simple moving average is $255.08 and its two-hundred day simple moving average is $240.79. The firm has a market capitalization of $46.49 billion, a price-to-earnings ratio of 19.28 and a beta of 3.66. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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%. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on COIN shares. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 price objective on the stock. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Barclays lifted their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $316.67.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by company insiders.

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.