HBK Sorce Advisory LLC Invests $221,000 in Coinbase Global, Inc. (NASDAQ:COIN)

HBK Sorce Advisory LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,269 shares of the cryptocurrency exchange’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arkadios Wealth Advisors raised its position in Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Coinbase Global by 2.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock worth $669,000 after acquiring an additional 90 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Coinbase Global by 10.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after acquiring an additional 125 shares in the last quarter. Windle Wealth LLC raised its position in shares of Coinbase Global by 2.5% in the 3rd quarter. Windle Wealth LLC now owns 5,236 shares of the cryptocurrency exchange’s stock worth $393,000 after acquiring an additional 126 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Coinbase Global by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,030 shares of the cryptocurrency exchange’s stock worth $378,000 after acquiring an additional 145 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Wedbush boosted their price target on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Piper Sandler boosted their target price on Coinbase Global from $125.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, Mizuho boosted their target price on Coinbase Global from $60.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $156.65.

Coinbase Global Stock Up 4.8 %

Coinbase Global stock opened at $263.01 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50-day simple moving average is $213.33 and its two-hundred day simple moving average is $149.38. The company has a market cap of $63.72 billion, a PE ratio of 974.11 and a beta of 3.41. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted 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. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period last year, the company earned ($2.46) earnings per share. Coinbase Global’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 2.1 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $130.29, for a total value of $91,203.00. Following the completion of the transaction, the chief operating officer now directly owns 225,142 shares in the company, valued at approximately $29,333,751.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $1,194,357.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Emilie Choi sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total value of $91,203.00. Following the transaction, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The disclosure for this sale can be found here. Insiders have sold 661,539 shares of company stock valued at $109,628,776 in the last 90 days. 33.16% of the stock is currently owned by company insiders.

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.