Yousif Capital Management LLC Invests $446,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Yousif Capital Management LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,563 shares of the cryptocurrency exchange’s stock, valued at approximately $446,000.

Several other hedge funds also recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the period. Masso Torrence Wealth Management Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth $302,000. Mariner LLC boosted 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 worth $6,200,000 after buying an additional 4,259 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after buying an additional 125 shares during the period. Finally, Oak Thistle LLC purchased a new stake in Coinbase Global during the fourth quarter worth about $1,035,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Wedbush boosted their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group dropped their price objective on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays increased their price objective on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday. Sanford C. Bernstein boosted their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Finally, Oppenheimer increased their price target on Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday. Three equities research 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $193.85.

Coinbase Global Stock Performance

Coinbase Global stock opened at $226.93 on Tuesday. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $54.98 billion, a PE ratio of 45.30 and a beta of 3.46. The firm’s 50 day simple moving average is $236.37 and its 200 day simple moving average is $167.06.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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 firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.46) earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at approximately $558,181.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the sale, the director now owns 4,662 shares in the company, valued at approximately $558,181.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The disclosure for this sale can be found here. Insiders have sold 420,597 shares of company stock worth $86,053,862 in the last ninety days. 33.16% of the stock is currently owned by 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.