Perennial Investment Advisors LLC Has $516,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Perennial Investment Advisors LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 39.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,080 shares of the cryptocurrency exchange’s stock after purchasing an additional 584 shares during the period. Perennial Investment Advisors LLC’s holdings in Coinbase Global were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter worth $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at approximately $50,000. Finally, Bogart Wealth LLC grew its position in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $160.55 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 firm has a 50-day moving average of $226.99 and a 200-day moving average of $242.60. The company has a market cap of $40.76 billion, a PE ratio of 16.90 and a beta of 3.65. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results 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%. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $142,540.74. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,609 shares of company stock valued at $52,238,258. 23.43% of the stock is owned by insiders.

Analyst Ratings Changes

COIN has been the topic of a number of research reports. Barclays lifted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. JMP Securities increased their target price on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $314.72.

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.