Independent Advisor Alliance Purchases 1,813 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Independent Advisor Alliance grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 31.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,488 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,813 shares during the quarter. Independent Advisor Alliance’s holdings in Coinbase Global were worth $1,859,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of COIN. SOA Wealth Advisors LLC. increased its stake in Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares in the last quarter. Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after buying an additional 44 shares during the period. Capital Advisors Wealth Management LLC increased its position in shares of Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Coinbase Global by 2.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 7.4 %

Shares of Coinbase Global stock opened at $177.49 on Friday. The firm’s 50-day moving average price is $256.83 and its two-hundred day moving average price is $240.64. The company has a market capitalization of $45.06 billion, a price-to-earnings ratio of 18.68 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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 forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,455 shares of company stock worth $60,955,968. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of a number of research reports. Mizuho lowered their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Barclays lifted their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $307.89.

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.