Sara Bay Financial Takes $230,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sara Bay Financial purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel reports. The fund purchased 900 shares of the cryptocurrency exchange’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banco Santander S.A. increased its stake in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after buying an additional 16,737 shares during the period. Global Retirement Partners LLC grew its stake in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Coinbase Global during the third quarter worth approximately $29,756,000. Lindbrook Capital LLC grew its stake in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Coinbase Global during the second quarter worth approximately $2,908,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Bank of America raised their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods decreased their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Barclays raised their target price on 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $282.83.

Coinbase Global Price Performance

Coinbase Global stock traded up $13.85 during midday trading on Friday, hitting $295.48. 11,250,894 shares of the company’s stock were exchanged, compared to its average volume of 6,726,179. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The stock has a 50-day moving average price of $291.21 and a two-hundred day moving average price of $231.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59.

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 business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% compared to the same quarter last year. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the business’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 directly owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 347,033 shares of company stock valued at $102,613,277 over the last 90 days. Insiders own 23.43% of the company’s stock.

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.