Kovack Advisors Inc. Acquires Shares of 2,681 Coinbase Global, Inc. (NASDAQ:COIN)

Kovack Advisors Inc. bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,681 shares of the cryptocurrency exchange’s stock, valued at approximately $666,000.

Several other institutional investors have also recently made changes to their positions in COIN. Mn Services Vermogensbeheer B.V. grew its stake in shares of Coinbase Global by 2.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 68,200 shares of the cryptocurrency exchange’s stock valued at $16,934,000 after buying an additional 1,700 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Coinbase Global during the 4th quarter valued at $546,000. K.J. Harrison & Partners Inc purchased a new position in Coinbase Global during the 4th quarter valued at $2,109,000. New York Life Investment Management LLC bought a new position in Coinbase Global in the 4th quarter valued at $847,000. Finally, Armstrong Fleming & Moore Inc purchased a new stake in Coinbase Global in the fourth quarter worth $233,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Bank of America lowered their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at $21,218,413.97. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,069 shares of company stock worth $66,488,684 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 2.2 %

Shares of NASDAQ COIN opened at $208.37 on Friday. The business has a fifty day moving average price of $269.37 and a 200 day moving average price of $240.48. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. 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 stock has a market capitalization of $52.90 billion, a P/E ratio of 21.93 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

About Coinbase Global

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.