Sigma Planning Corp Raises Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sigma Planning Corp lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 162.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,508 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,172 shares during the quarter. Sigma Planning Corp’s holdings in Coinbase Global were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Matauro LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth about $235,000. Transcend Capital Advisors LLC raised its holdings in shares of Coinbase Global by 1.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange’s stock valued at $1,159,000 after buying an additional 54 shares during the period. O Neil Global Advisors Inc. acquired a new position in Coinbase Global during the 4th quarter worth approximately $869,000. Meitav Investment House Ltd. purchased a new position in Coinbase Global in the 4th quarter worth approximately $298,000. Finally, Handelsbanken Fonder AB grew its position in Coinbase Global by 85.3% in the fourth quarter. Handelsbanken Fonder AB now owns 70,649 shares of the cryptocurrency exchange’s stock valued at $17,542,000 after acquiring an additional 32,518 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on COIN shares. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. 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 research note on Friday, February 14th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

Coinbase Global Trading Down 6.2 %

NASDAQ COIN opened at $213.09 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a 50-day simple moving average of $272.02 and a 200-day simple moving average of $240.90. The firm has a market capitalization of $54.10 billion, a PE ratio of 22.43 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the completion of the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $21,218,413.97. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,074,056.70. This represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,091 shares of company stock worth $64,162,116 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

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.