Tamar Securities LLC Invests $312,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Tamar Securities LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,258 shares of the cryptocurrency exchange’s stock, valued at approximately $312,000.

Several other hedge funds have also modified their holdings of COIN. Perigon Wealth Management LLC raised its stake in Coinbase Global by 3.8% in the fourth quarter. Perigon Wealth Management LLC now owns 7,761 shares of the cryptocurrency exchange’s stock valued at $1,927,000 after buying an additional 283 shares in the last quarter. Nilsine Partners LLC grew its holdings in shares of Coinbase Global by 2.4% during the fourth quarter. Nilsine Partners LLC now owns 6,910 shares of the cryptocurrency exchange’s stock worth $1,716,000 after buying an additional 162 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Coinbase Global by 198.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange’s stock worth $3,380,000 after buying an additional 9,045 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in Coinbase Global by 6.4% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,378 shares of the cryptocurrency exchange’s stock valued at $342,000 after purchasing an additional 83 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Coinbase Global in the 4th quarter valued at approximately $290,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the sale, the chief operating officer now directly owns 175,101 shares in the company, valued at approximately $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,489 shares of company stock worth $109,624,297. 23.43% of the stock is owned by company insiders.

Coinbase Global Price Performance

COIN opened at $277.68 on Tuesday. The firm has a market cap of $69.52 billion, a price-to-earnings 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’s 50-day moving average price is $289.59 and its 200 day moving average price is $234.36. 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 (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned ($0.01) EPS. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COIN shares. Mizuho boosted their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Oppenheimer cut their price target on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $282.83.

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.