Cadent Capital Advisors LLC Buys Shares of 2,762 Coinbase Global, Inc. (NASDAQ:COIN)

Cadent Capital Advisors LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,762 shares of the cryptocurrency exchange’s stock, valued at approximately $686,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedmont Private Capital lifted its holdings in shares of Coinbase Global by 21.9% in the 4th quarter. Wedmont Private Capital now owns 1,766 shares of the cryptocurrency exchange’s stock worth $457,000 after acquiring an additional 317 shares during the last quarter. Fiduciary Alliance LLC boosted its position in shares of Coinbase Global by 19.5% during the fourth quarter. Fiduciary Alliance LLC now owns 11,453 shares of the cryptocurrency exchange’s stock worth $2,844,000 after buying an additional 1,872 shares during the period. First Hawaiian Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at $327,000. Fulton Bank N.A. lifted its stake in Coinbase Global by 1.6% during the 4th quarter. Fulton Bank N.A. now owns 5,512 shares of the cryptocurrency exchange’s stock worth $1,369,000 after acquiring an additional 87 shares in the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $358,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on COIN shares. Piper Sandler raised their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, HC Wainwright restated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $284.17.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the sale, the insider now directly owns 74,956 shares in the company, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,983 shares of company stock valued at $96,198,957 over the last 90 days. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN traded down $10.91 during mid-day trading on Monday, reaching $247.87. 4,826,454 shares of the company’s stock were exchanged, compared to its average volume of 7,280,310. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $287.26 and a two-hundred day simple moving average of $229.71. The company has a market cap of $62.05 billion, a price-to-earnings ratio of 42.30 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal 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.