Transcend Capital Advisors LLC Purchases Shares of 2,458 Coinbase Global, Inc. (NASDAQ:COIN)

Transcend Capital Advisors LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,458 shares of the cryptocurrency exchange’s stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in Coinbase Global by 10.4% in the fourth quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock valued at $3,142,000 after buying an additional 1,685 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Coinbase Global in the fourth quarter worth about $2,890,000. Kovack Advisors Inc. purchased a new position in shares of Coinbase Global in the fourth quarter worth about $434,000. State of New Jersey Common Pension Fund D grew its holdings in Coinbase Global by 1.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 98,975 shares of the cryptocurrency exchange’s stock worth $17,214,000 after acquiring an additional 1,870 shares during the period. Finally, Stevens Capital Management LP grew its holdings in Coinbase Global by 185.5% during the fourth quarter. Stevens Capital Management LP now owns 9,532 shares of the cryptocurrency exchange’s stock worth $1,658,000 after acquiring an additional 6,193 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Emilie Choi sold 700 shares of Coinbase Global stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the transaction, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at approximately $29,333,751.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 97,836 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $131.57, for a total value of $12,872,282.52. Following the transaction, the director now directly owns 6,072 shares of the company’s stock, valued at $798,893.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 542,208 shares of company stock valued at $101,867,103. 33.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler raised their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Sanford C. Bernstein raised their price objective on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Oppenheimer raised their price objective on Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. Finally, Bank of America raised their price objective on Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $167.81.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $218.16 on Tuesday. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. 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 company has a market cap of $52.85 billion, a price-to-earnings ratio of 808.00 and a beta of 3.41. The business’s 50 day moving average price is $232.50 and its 200 day moving average price is $163.08.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating 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 business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the firm posted ($2.46) earnings per share. The company’s revenue was up 51.6% on a year-over-year basis. On average, research analysts predict 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.