Scientech Research LLC Makes New $1.54 Million Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Scientech Research LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,192 shares of the cryptocurrency exchange's stock, valued at approximately $1,537,000. Coinbase Global accounts for 0.4% of Scientech Research LLC's portfolio, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of COIN. SOA Wealth Advisors LLC. raised its stake in Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange's stock worth $66,000 after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after acquiring an additional 40 shares during the period. Yousif Capital Management LLC boosted its position in shares of Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock valued at $635,000 after buying an additional 44 shares during the period. Capital Advisors Wealth Management LLC boosted its holdings in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange's stock valued at $365,000 after acquiring an additional 45 shares during the period. Finally, IPG Investment Advisors LLC lifted its position in shares of Coinbase Global by 2.0% during the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock worth $561,000 after purchasing an additional 45 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 3.9%

Shares of COIN traded up $10.03 during midday trading on Thursday, reaching $269.02. 7,835,492 shares of the company were exchanged, compared to its average volume of 10,165,699. The stock has a 50-day moving average price of $196.29 and a 200-day moving average price of $245.52. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $68.30 billion, a price-to-earnings ratio of 28.35 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $2.53 EPS. Coinbase Global's revenue for the quarter was up 24.2% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $88,646.78. The trade was a 96.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the insider now directly owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. This trade represents a 11.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,764 shares of company stock worth $35,671,592 over the last ninety days. 17.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COIN has been the topic of several research reports. Monness Crespi & Hardt raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price objective on the stock in a report on Tuesday, May 13th. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a research note on Monday, May 12th. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Needham & Company LLC lowered their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Piper Sandler boosted their price target on Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Ten equities research 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's stock. According to MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and an average target price of $266.40.

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.