Harbor Investment Advisory LLC Boosts Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Harbor Investment Advisory LLC raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 737 shares of the cryptocurrency exchange’s stock after purchasing an additional 99 shares during the period. Harbor Investment Advisory LLC’s holdings in Coinbase Global were worth $183,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Banco Santander S.A. increased its position in Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after purchasing an additional 16,737 shares during the period. Global Retirement Partners LLC grew its position in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global in the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC grew its position in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after buying an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Coinbase Global in the 2nd quarter worth approximately $2,908,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $295.85 on Thursday. The firm has a 50-day simple moving average of $290.36 and a 200-day simple moving average of $232.75. The stock has a market capitalization of $74.07 billion, a price-to-earnings ratio of 50.49 and a beta of 3.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were 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 owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,114,162.15. This represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 377,489 shares of company stock worth $111,724,097 over the last three months. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COIN. Needham & Company LLC lifted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Barclays lifted their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $282.83.

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.