3,027 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,027 shares of the cryptocurrency exchange’s stock, valued at approximately $526,000.

Several other institutional investors have also added to or reduced their stakes in COIN. Barrett & Company Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth $26,000. AlphaMark Advisors LLC acquired a new position in Coinbase Global in the 4th quarter worth about $33,000. Harbor Investment Advisory LLC raised its position in Coinbase Global by 68.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock valued at $43,000 after purchasing an additional 100 shares during the last quarter. Coston McIsaac & Partners acquired a new stake in shares of Coinbase Global during the fourth quarter valued at about $52,000. Finally, Steph & Co. grew its holdings in shares of Coinbase Global by 100.0% during the fourth quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 150 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

COIN opened at $223.25 on Monday. The firm has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The firm has a 50-day moving average of $236.37 and a 200 day moving average of $167.06.

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

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the sale, the director now directly owns 4,662 shares in the company, valued at approximately $558,181.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 213,851 shares of the company’s stock, valued at $45,977,965. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the sale, the director now owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. Insiders have sold 420,597 shares of company stock valued at $86,053,862 in the last 90 days. Insiders own 33.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. Canaccord Genuity Group raised their price objective on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho boosted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. HC Wainwright increased their target price on Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Bank of America boosted their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $192.60.

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.