Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 36.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,404 shares of the cryptocurrency exchange’s stock after purchasing an additional 4,085 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Coinbase Global were worth $3,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in COIN. Janney Montgomery Scott LLC increased its stake in Coinbase Global by 20.1% in the third quarter. Janney Montgomery Scott LLC now owns 38,634 shares of the cryptocurrency exchange’s stock valued at $6,883,000 after purchasing an additional 6,466 shares during the last quarter. National Pension Service grew its position in Coinbase Global by 15.6% during the third quarter. National Pension Service now owns 265,646 shares of the cryptocurrency exchange’s stock valued at $47,330,000 after acquiring an additional 35,839 shares during the period. Asset Management One Co. Ltd. grew its position in Coinbase Global by 3.6% during the third quarter. Asset Management One Co. Ltd. now owns 68,193 shares of the cryptocurrency exchange’s stock valued at $12,150,000 after acquiring an additional 2,352 shares during the period. Crescent Grove Advisors LLC purchased a new stake in Coinbase Global during the third quarter valued at about $206,000. Finally, Principal Financial Group Inc. grew its position in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after acquiring an additional 36,843 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the subject of several analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. HC Wainwright restated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. JMP Securities upped their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Barclays upped their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $311.56.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $214.17 on Friday. The stock has a fifty day moving average price of $263.18 and a two-hundred day moving average price of $241.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market cap of $54.37 billion, a P/E ratio of 22.54 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 issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.