Foundations Investment Advisors LLC Acquires 9,045 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Foundations Investment Advisors LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 198.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,614 shares of the cryptocurrency exchange’s stock after acquiring an additional 9,045 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Coinbase Global were worth $3,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Empowered Funds LLC boosted its position in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares in the last quarter. Capital Advisors Wealth Management LLC lifted 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 valued at $365,000 after buying an additional 45 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of Coinbase Global by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after buying an additional 51 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in shares of Coinbase Global by 2.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,029 shares of the cryptocurrency exchange’s stock worth $504,000 after acquiring an additional 56 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of COIN opened at $277.68 on Tuesday. The business’s 50-day moving average is $289.59 and its two-hundred day moving average is $234.36. The company has a market capitalization of $69.52 billion, a P/E ratio of 47.39 and a beta of 3.59. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on COIN shares. Monness Crespi & Hardt raised their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Oppenheimer reduced their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Bank of America increased their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC boosted their price target on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $282.83.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,114,162.15. The trade was a 70.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total value of $304,950.00. Following the transaction, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 367,489 shares of company stock valued at $109,624,297 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

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.