Sigma Planning Corp Takes a Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sigma Planning Corp bought a new stake in shares of Coinbase Global, Inc. in the fourth quarter. (NASDAQ:COIN), Holdings Channel.com reports. The company purchased 1,316 shares of the cryptocurrency exchange, worth approximately $229,000.

Several other institutional investors and hedge funds have also been buying and selling shares of COIN. Morgan Stanley increased its holdings in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the period. Connor Clark & ​​Lunn Investment Management Ltd. increased its holdings in Coinbase Global by 142.3% in the third quarter. Connor Clark & ​​Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange worth $55,047,000 after purchasing an additional 430,546 shares during the period. International Assets Investment Management LLC bought a new stake in Coinbase Global in the 4th quarter worth approximately $34,422,000. Vanguard Group Inc. increased its position in shares of Coinbase Global by 1.3% in the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange worth $1,041,602,000 after acquiring an additional 176,525 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Coinbase Global by 41.5% in the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange worth $30,394,000 after acquiring an additional 118,670 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s shares.

Coinbase global price performance

NASDAQ:COIN opened at $236.32 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $57.25 billion, a price-to-earnings ratio of 875.26 and a beta of 3.41. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The company’s 50-day moving average is $231.74 and its 200-day moving average is $162.07.

Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analyst consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same period last year, the company earned ($2.46) earnings per share. The company’s revenue for the quarter rose 51.6% year over year. On average, equity research analysts predict that Coinbase Global, Inc. will record a profit per share of 2.43 for the current financial year.

Insider buying and selling at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the Chief Operating Officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The sale was disclosed in a document filed with the SEC and available on the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction that occurred on Tuesday, April 23. The stock sold at an average price of $232.37, for a total value of $3,806,220.60. Following the sale, the director now directly owns 4,662 shares in the company, valued at $1,083,308.94. The sale was disclosed in a document filed with the SEC, available at this link. Also, COO Emilie Choi sold 700 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock sold at an average price of $130.29, for a total value of $91,203.00. Following the completion of the sale, the Chief Operating Officer now owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The explanation of this sale can be found here. Insiders have sold a total of 532,208 shares of the company’s stock worth $99,652,403 over the last ninety days. Company insiders own 33.16% of the company’s shares.

Changes in analyst ratings

Several research analysts have recently released reports on COIN stock. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3. Needham & Company LLC raised their price target on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12. Canaccord Genuity Group reissued a “buy” rating and a $240.00 target price on shares of Coinbase Global in a report on Thursday, March 28. Finally, Wedbush raised their target price on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of ‘Hold’ and an average price target of $165.43.

Check out our latest stock analysis on COIN

Global Coinbase Profile

(Free report)

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers consumers the premier financial account in the crypto economy; and a marketplace with a liquidity pool for crypto asset transactions for institutions.

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Would you like to see which other hedge funds own COIN? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Coinbase Global, Inc. (NASDAQ:COIN – Free Report).

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