1,617 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel.com reports. The fund bought 1,617 shares of the cryptocurrency exchange’s stock, valued at approximately $281,000.

Several other hedge funds also recently bought and sold shares of COIN. Barrett & Company Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter valued at $26,000. AlphaMark Advisors LLC purchased a new stake in Coinbase Global during the 4th quarter worth approximately $33,000. Harbor Investment Advisory LLC lifted its holdings in Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after buying an additional 100 shares in the last quarter. Coston McIsaac & Partners purchased a new position in Coinbase Global in the 4th quarter valued at approximately $52,000. Finally, Steph & Co. grew its stake in shares of Coinbase Global by 100.0% in the fourth quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on COIN. HC Wainwright lifted their target price on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 16th. Barclays boosted their price objective on Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research report on Monday, April 8th. Bank of America lifted their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Citigroup increased their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $165.43.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total value of $1,210,200.00. Following the sale, the insider now owns 61,665 shares of the company’s stock, valued at approximately $7,462,698.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. In the last three months, insiders sold 607,358 shares of company stock valued at $106,945,156. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded down $12.06 during trading hours on Wednesday, hitting $224.37. 6,718,393 shares of the company were exchanged, compared to its average volume of 13,675,555. The business has a 50-day moving average of $229.46 and a 200-day moving average of $159.37. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $54.36 billion, a price-to-earnings ratio of 831.00 and a beta of 3.41.

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

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.