Merit Financial Group LLC Takes $368,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Merit Financial Group LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,114 shares of the cryptocurrency exchange’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Xponance Inc. grew its stake in Coinbase Global by 5.6% during the third quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after acquiring an additional 333 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock valued at $282,000 after acquiring an additional 125 shares in the last quarter. Brown Advisory Inc. grew its stake in Coinbase Global by 84.0% during the third quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange’s stock valued at $687,000 after acquiring an additional 4,175 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Coinbase Global by 50.4% during the third quarter. Verdence Capital Advisors LLC now owns 4,524 shares of the cryptocurrency exchange’s stock valued at $340,000 after acquiring an additional 1,517 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in Coinbase Global by 4.7% during the third quarter. IFM Investors Pty Ltd now owns 29,970 shares of the cryptocurrency exchange’s stock valued at $2,250,000 after acquiring an additional 1,335 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Oppenheimer upped their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $200.63.

Coinbase Global Stock Down 1.5 %

COIN opened at $211.20 on Thursday. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The firm’s 50 day simple moving average is $237.54 and its two-hundred day simple moving average is $169.42. The company has a market capitalization of $51.17 billion, a PE ratio of 42.16 and a beta of 3.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last issued its 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. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.46) earnings per share. As a group, equities analysts forecast that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $147.03, for a total value of $3,392,717.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. Insiders sold 361,542 shares of company stock worth $81,392,237 over the last 90 days. Company insiders own 33.16% of the company’s stock.

Coinbase Global 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.