First Heartland Consultants Inc. Acquires New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

First Heartland Consultants Inc. acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 939 shares of the cryptocurrency exchange's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $372,450,000. Proficio Capital Partners LLC increased its holdings in Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock valued at $103,888,000 after buying an additional 417,036 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Coinbase Global by 1,159.9% during the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on COIN. Canaccord Genuity Group reaffirmed a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, May 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, May 12th. Needham & Company LLC reduced their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a research note on Monday, May 12th. Finally, Cantor Fitzgerald began coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $266.40.

Coinbase Global Stock Performance

COIN opened at $271.95 on Friday. The stock has a market capitalization of $69.04 billion, a price-to-earnings ratio of 28.63 and a beta of 3.62. The company has a fifty day moving average of $197.95 and a 200 day moving average of $246.11. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its 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). The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business's revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.53 earnings per share. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This trade represents a 96.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company's stock, valued at $17,656,524.09. This trade represents a 11.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,764 shares of company stock worth $35,671,592 over the last 90 days. 17.65% of the stock is owned by insiders.

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.

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