Park Avenue Securities LLC Increases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Park Avenue Securities LLC lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 73.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,317 shares of the cryptocurrency exchange’s stock after buying an additional 1,404 shares during the quarter. Park Avenue Securities LLC’s holdings in Coinbase Global were worth $824,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of COIN. Envestnet Asset Management Inc. lifted its stake in Coinbase Global by 14.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock worth $9,966,000 after purchasing an additional 5,767 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Coinbase Global by 32.0% in the second quarter. Amalgamated Bank now owns 12,935 shares of the cryptocurrency exchange’s stock worth $2,875,000 after purchasing an additional 3,133 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Coinbase Global by 17.9% in the second quarter. AE Wealth Management LLC now owns 941 shares of the cryptocurrency exchange’s stock worth $209,000 after buying an additional 143 shares in the last quarter. Sei Investments Co. boosted its stake in Coinbase Global by 22.3% during the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after buying an additional 2,212 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in Coinbase Global by 342.6% during the second quarter. Frank Rimerman Advisors LLC now owns 1,412 shares of the cryptocurrency exchange’s stock valued at $314,000 after buying an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the sale, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 347,033 shares of company stock valued at $102,613,277 over the last quarter. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Down 0.4 %

Shares of COIN opened at $294.19 on Wednesday. The firm has a fifty day moving average price of $290.14 and a 200-day moving average price of $232.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $73.65 billion, a P/E ratio of 50.20 and a beta of 3.59. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period last year, the firm earned ($0.01) earnings per share. Equities research analysts expect that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COIN shares. Oppenheimer decreased their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group decreased 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 note on Friday, January 10th. B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $282.83.

Coinbase Global Company 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.