International Assets Investment Management LLC Makes New $34.42 Million Investment in Coinbase Global, Inc. (NASDAQ:COIN)

International Assets Investment Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 197,921 shares of the cryptocurrency exchange's stock, valued at approximately $34,422,000. International Assets Investment Management LLC owned approximately 0.08% of Coinbase Global as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. Barrett & Company Inc. bought a new position in shares of Coinbase Global in the 4th quarter worth $26,000. AlphaMark Advisors LLC bought a new position in shares of Coinbase Global in the 4th quarter worth $33,000. Coston McIsaac & Partners bought a new position in Coinbase Global during the 4th quarter valued at $52,000. Psagot Value Holdings Ltd. Israel bought a new position in Coinbase Global during the 3rd quarter valued at $68,000. Finally, Sound Income Strategies LLC lifted its stake in Coinbase Global by 427.6% during the 4th quarter. Sound Income Strategies LLC now owns 401 shares of the cryptocurrency exchange's stock valued at $70,000 after acquiring an additional 325 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

Shares of COIN traded down $5.60 during trading hours on Friday, reaching $223.25. 13,739,132 shares of the company's stock traded hands, compared to its average volume of 9,158,455. The stock has a market cap of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm's 50 day simple moving average is $236.37 and its 200-day simple moving average is $165.79. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The company's revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter last year, the company posted ($2.46) EPS. Equities analysts expect that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COIN. JPMorgan Chase & Co. raised their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, March 15th. Needham & Company LLC decreased their price objective on Coinbase Global from $275.00 to $260.00 and set a "buy" rating for the company in a report on Friday. HC Wainwright lifted their price objective on Coinbase Global from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, April 29th. The Goldman Sachs Group decreased their price objective on Coinbase Global from $295.00 to $255.00 and set a "neutral" rating for the company in a report on Friday. Finally, Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Friday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $185.48.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the sale, the chief operating officer now owns 213,851 shares in the company, valued at approximately $45,977,965. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Emilie Choi sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the sale, the chief operating officer now owns 213,851 shares in the company, valued at approximately $45,977,965. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 42,113 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares of the company's stock, valued at approximately $12,585,661.48. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock worth $86,053,862 in the last quarter. 33.16% of the stock is owned by 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.