Main Street Financial Solutions LLC Buys 93 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Main Street Financial Solutions LLC boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,531 shares of the cryptocurrency exchange’s stock after purchasing an additional 93 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Coinbase Global were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of COIN. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter worth $50,000. Finally, Bogart Wealth LLC grew its stake in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 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 dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now owns 10,417 shares in the company, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $178.79, for a total value of $2,681,850.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $94,043.54. The trade was a 96.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,067 shares of company stock worth $49,486,825. 23.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. JMP Securities lowered their target price on shares of Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Piper Sandler raised their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $298.74.

Coinbase Global Price Performance

NASDAQ:COIN opened at $172.21 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a 50 day moving average price of $204.11 and a 200-day moving average price of $241.35. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The firm has a market cap of $43.72 billion, a price-to-earnings ratio of 18.13 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.