Prime Capital Investment Advisors LLC Takes $220,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Prime Capital Investment Advisors LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,267 shares of the cryptocurrency exchange’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also bought and sold shares of COIN. Ancora Advisors LLC increased its holdings in Coinbase Global by 144.0% in the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 435 shares during the period. Tyler Stone Wealth Management acquired a new stake in Coinbase Global during the 2nd quarter worth about $31,000. AlphaMark Advisors LLC acquired a new stake in Coinbase Global during the 4th quarter worth about $33,000. Bessemer Group Inc. grew its holdings in Coinbase Global by 100.0% during the 4th quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock worth $36,000 after acquiring an additional 500 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new stake in Coinbase Global during the 4th quarter worth about $36,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the sale, the insider now owns 66,122 shares in the company, valued at approximately $18,223,223.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $129.15, for a total value of $193,725.00. Following the completion of the transaction, the chief operating officer now directly owns 234,642 shares in the company, valued at approximately $30,304,014.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The disclosure for this sale can be found here. Insiders have sold a total of 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 corporate insiders.

Analyst Ratings Changes

COIN has been the subject of a number of recent analyst reports. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday. Piper Sandler increased their price target on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday. Barclays raised their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Citigroup raised their target price on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. raised their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus target price of $163.70.

Coinbase Global Price Performance

Coinbase Global stock opened at $245.75 on Monday. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The company’s 50 day moving average price is $215.66 and its two-hundred day moving average price is $151.71. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a market cap of $59.54 billion, a P/E ratio of 910.19 and a beta of 3.41.

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 net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter last year, the firm earned ($2.46) EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities analysts predict that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

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.