Strs Ohio Makes New $765,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Strs Ohio bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,402 shares of the cryptocurrency exchange’s stock, valued at approximately $765,000.

Several other institutional investors also recently made changes to their positions in COIN. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth $26,000. AlphaMark Advisors LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth $33,000. Harbor Investment Advisory LLC boosted its position in shares of Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. Coston McIsaac & Partners purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $52,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $59,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 5.1 %

Shares of COIN stock opened at $224.37 on Thursday. The firm has a market cap of $54.36 billion, a P/E ratio of 831.00 and a beta of 3.41. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50-day simple moving average is $229.46 and its 200-day simple moving average is $159.37.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.46) EPS. As a group, equities analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total value of $3,505,156.20. Following the transaction, the director now owns 4,662 shares in the company, valued at $997,621.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total value of $3,505,156.20. Following the transaction, the director now owns 4,662 shares in the company, valued at $997,621.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $129.07, for a total transaction of $2,978,290.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 515,828 shares of company stock worth $95,846,182. Company insiders own 33.16% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent research reports. JMP Securities reiterated a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Mizuho boosted their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Citigroup boosted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Finally, HC Wainwright boosted their price objective on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $165.43.

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.