United Advisor Group LLC Acquires New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

United Advisor Group LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,696 shares of the cryptocurrency exchange's stock, valued at approximately $669,000.

Several other institutional investors also recently bought and sold shares of COIN. Savant Capital LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth about $591,000. Robeco Institutional Asset Management B.V. boosted its holdings in Coinbase Global by 33.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange's stock valued at $25,729,000 after purchasing an additional 25,972 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Coinbase Global by 198.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange's stock valued at $3,380,000 after purchasing an additional 9,045 shares in the last quarter. KCM Investment Advisors LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $507,000. Finally, Western Financial Corp CA acquired a new position in Coinbase Global in the fourth quarter valued at approximately $459,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

NASDAQ:COIN traded down $2.70 during trading hours on Friday, hitting $246.14. The company's stock had a trading volume of 3,129,898 shares, compared to its average volume of 10,156,411. The business's 50-day moving average is $204.79 and its two-hundred day moving average is $246.09. The company has a market capitalization of $62.49 billion, a PE ratio of 25.92 and a beta of 3.62. 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, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on COIN. Needham & Company LLC lowered their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. The Goldman Sachs Group upped their price target on Coinbase Global from $189.00 to $209.00 and gave the company a "neutral" rating in a report on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Mizuho decreased their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the sale, the director now owns 10,417 shares of the company's stock, valued at $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 170,717 shares of company stock worth $36,801,351 over the last 90 days. 17.65% of the stock is currently owned by corporate insiders.

About Coinbase Global

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.