Larson Financial Group LLC Increases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Larson Financial Group LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 43.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 760 shares of the cryptocurrency exchange’s stock after purchasing an additional 229 shares during the period. Larson Financial Group LLC’s holdings in Coinbase Global were worth $189,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. Principal Financial Group Inc. increased its position in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after purchasing an additional 36,843 shares during the last quarter. Assetmark Inc. increased its position in shares of Coinbase Global by 76.6% in the third quarter. Assetmark Inc. now owns 2,879 shares of the cryptocurrency exchange’s stock worth $513,000 after purchasing an additional 1,249 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of Coinbase Global by 51.4% in the third quarter. Axxcess Wealth Management LLC now owns 5,055 shares of the cryptocurrency exchange’s stock worth $901,000 after purchasing an additional 1,716 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Coinbase Global by 12.6% in the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock worth $276,000 after purchasing an additional 173 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Coinbase Global by 8.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock worth $265,000 after purchasing an additional 110 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. This trade represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred 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 transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 over the last three months. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on COIN. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a research report on Friday, March 7th. They issued a “buy” rating and a $305.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Bank of America cut their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.89.

Coinbase Global Stock Performance

Shares of COIN opened at $191.69 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a 50-day simple moving average of $259.55 and a two-hundred day simple moving average of $241.43. The firm has a market capitalization of $48.67 billion, a PE ratio of 20.18 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.