Gladstone Institutional Advisory LLC Increases Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Gladstone Institutional Advisory LLC lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 62.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,537 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,366 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Coinbase Global were worth $878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global in the 3rd quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted its position in 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. Brown Brothers Harriman & Co. boosted its stake in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in Coinbase Global during the third quarter valued at $55,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the sale, the insider now directly owns 79,407 shares in the company, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 386,798 shares of company stock worth $114,707,944. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Up 8.4 %

NASDAQ:COIN opened at $298.11 on Friday. The firm has a 50-day simple moving average of $282.36 and a 200-day simple moving average of $237.88. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The firm has a market cap of $74.63 billion, a P/E ratio of 50.87 and a beta of 3.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Equities analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on COIN shares. Piper Sandler raised their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Monness Crespi & Hardt upped their target price on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. Finally, Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $286.00.

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.