Stifel Financial Corp Buys 14,010 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Stifel Financial Corp grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 32.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 57,522 shares of the cryptocurrency exchange's stock after purchasing an additional 14,010 shares during the period. Stifel Financial Corp's holdings in Coinbase Global were worth $14,283,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. SOA Wealth Advisors LLC. raised its stake in Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange's stock valued at $66,000 after buying an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock worth $239,000 after purchasing an additional 40 shares in the last quarter. Yousif Capital Management LLC grew its position in Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC grew its position 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 purchasing an additional 45 shares during the last quarter. Finally, IPG Investment Advisors LLC increased its stake in Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock valued at $561,000 after purchasing an additional 45 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Rosenblatt Securities decreased their price objective on shares of Coinbase Global from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. HC Wainwright reissued a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Finally, Needham & Company LLC restated a "buy" rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $289.90.

Coinbase Global Price Performance

Coinbase Global stock traded down $3.24 during mid-day trading on Wednesday, hitting $202.89. The stock had a trading volume of 4,552,384 shares, compared to its average volume of 9,668,415. 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 firm's 50 day moving average is $189.83 and its 200 day moving average is $243.36. The firm has a market capitalization of $51.51 billion, a P/E ratio of 21.36 and a beta of 3.65. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 15,228 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $2,922,072.67. This represents a 59.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 168,970 shares of company stock worth $38,672,615. 23.43% 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.