Scientech Research LLC Purchases New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Scientech Research LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 6,192 shares of the cryptocurrency exchange’s stock, valued at approximately $1,537,000. Coinbase Global makes up 0.4% of Scientech Research LLC’s holdings, making the stock its 23rd largest position.

Several other large investors also recently added to or reduced their stakes in COIN. Norges Bank purchased a new stake in Coinbase Global in the 4th quarter valued at about $536,484,000. Groupama Asset Managment purchased a new stake in Coinbase Global in the 4th quarter valued at about $372,450,000. Proficio Capital Partners LLC lifted its position in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after purchasing an additional 417,036 shares during the period. Wellington Management Group LLP lifted its position in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after purchasing an additional 302,595 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Coinbase Global by 614.8% in the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after purchasing an additional 295,313 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,978 shares of the firm’s 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 completion of the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. The trade was a 11.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,764 shares of company stock valued at $35,671,592 over the last ninety days. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global Stock Up 9.0%

NASDAQ:COIN opened at $266.46 on Friday. The firm has a market capitalization of $67.65 billion, a P/E ratio of 28.05 and a beta of 3.62. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company’s fifty day moving average price is $191.65 and its 200-day moving average price is $244.07. 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 (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the company posted $2.53 earnings per share. The business’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COIN shares. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price target for the company. Piper Sandler upped their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Barclays upped their price target on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.20.

Coinbase Global Company 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.