Jones Financial Companies Lllp Purchases 273 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Jones Financial Companies Lllp boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 125.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 490 shares of the cryptocurrency exchange’s stock after acquiring an additional 273 shares during the period. Jones Financial Companies Lllp’s holdings in Coinbase Global were worth $122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $409,919,000. Proficio Capital Partners LLC lifted its holdings in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Azora Capital LP lifted its holdings in shares of Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Coinbase Global in the third quarter valued at approximately $38,535,000. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. Canaccord Genuity Group raised their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. Barclays increased their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, Mizuho decreased their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $316.67.

Insider Activity

In related news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global 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 sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $183.12 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 business has a fifty day simple moving average of $255.08 and a two-hundred day simple moving average of $240.79. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a market capitalization of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66.

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, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.