MML Investors Services LLC Purchases 2,109 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

MML Investors Services LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,659 shares of the cryptocurrency exchange's stock after buying an additional 2,109 shares during the quarter. MML Investors Services LLC's holdings in Coinbase Global were worth $3,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the 4th quarter valued at $50,000. Finally, Bogart Wealth LLC lifted its stake in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Down 1.6 %

Shares of NASDAQ COIN traded down $3.24 during mid-day trading on Wednesday, reaching $202.89. 4,552,384 shares of the company's stock traded hands, compared to its average volume of 9,668,415. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The stock has a market cap of $51.51 billion, a P/E ratio of 21.36 and a beta of 3.65. The business has a 50-day simple moving average of $189.83 and a 200 day simple moving average of $243.36.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the transaction, the director now owns 10,417 shares of the company's stock, valued at $3,074,056.70. This trade represents a 42.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 168,970 shares of company stock valued at $38,672,615. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

COIN has been the subject of several research reports. JMP Securities dropped their target price on Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Bank of America cut their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. HC Wainwright restated a "buy" rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Rosenblatt Securities cut their target price on Coinbase Global from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus target price of $289.90.

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.