Koshinski Asset Management Inc. Acquires Shares of 1,916 Coinbase Global, Inc. (NASDAQ:COIN)

Koshinski Asset Management Inc. acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,916 shares of the cryptocurrency exchange’s stock, valued at approximately $333,000.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James & Associates increased its holdings in shares of Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after purchasing an additional 9,564 shares during the period. Mariner LLC increased its holdings in shares of Coinbase Global by 5.4% in the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after purchasing an additional 4,259 shares during the period. Itau Unibanco Holding S.A. increased its holdings 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 valued at $103,000 after purchasing an additional 125 shares during the period. Oak Thistle LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $1,035,000. Finally, Barclays PLC increased its holdings in shares of Coinbase Global by 41.5% in the 3rd quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after purchasing an additional 118,670 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a report on Thursday, March 28th. Finally, Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Three 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 stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $163.70.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at approximately $7,462,698.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at approximately $7,462,698.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 700 shares of Coinbase Global stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 225,142 shares in the company, valued at approximately $29,333,751.18. The disclosure for this sale can be found here. Insiders have sold 660,039 shares of company stock worth $109,435,051 in the last 90 days. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $223.41 on Tuesday. The stock has a 50-day moving average price of $217.78 and a 200 day moving average price of $152.75. 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 firm has a market cap of $54.13 billion, a price-to-earnings ratio of 827.44 and a beta of 3.41. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $826.10 million. During the same quarter last year, the business earned ($2.46) earnings per share. The company’s revenue was up 51.6% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 2.43 EPS 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.