Fiduciary Alliance LLC Buys 2,014 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Fiduciary Alliance LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,467 shares of the cryptocurrency exchange's stock after acquiring an additional 2,014 shares during the period. Fiduciary Alliance LLC's holdings in Coinbase Global were worth $2,319,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its stake in shares of Coinbase Global by 175.8% during the 4th quarter. Hantz Financial Services Inc. now owns 684 shares of the cryptocurrency exchange's stock valued at $170,000 after purchasing an additional 436 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in Coinbase Global in the fourth quarter worth about $2,525,000. Waldron Private Wealth LLC lifted its holdings in Coinbase Global by 6.5% in the fourth quarter. Waldron Private Wealth LLC now owns 2,557 shares of the cryptocurrency exchange's stock worth $635,000 after buying an additional 155 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Coinbase Global during the 4th quarter valued at approximately $301,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $1,149,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COIN. Mizuho reduced their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. JMP Securities reiterated a "market outperform" rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Thursday, May 8th. Bank of America lowered their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Finally, Piper Sandler raised their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $266.10.

Coinbase Global Stock Performance

NASDAQ:COIN traded up $12.19 on Tuesday, hitting $258.91. The stock had a trading volume of 9,922,162 shares, compared to its average volume of 10,154,193. The business's 50-day simple moving average is $206.68 and its two-hundred day simple moving average is $244.67. The stock has a market cap of $65.73 billion, a price-to-earnings ratio of 27.25 and a beta of 3.62. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. The firm's revenue was up 24.2% on a year-over-year basis. As a group, research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 10,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $104,226.90. This represents a 95.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 12,931 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $267.29, for a total value of $3,456,326.99. Following the sale, the insider now directly owns 84,280 shares in the company, valued at approximately $22,527,201.20. This represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,717 shares of company stock worth $36,801,351. Corporate insiders own 17.65% of the company's stock.

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.