Sigma Planning Corp Takes $229,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sigma Planning Corp purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,316 shares of the cryptocurrency exchange’s stock, valued at approximately $229,000.

A number of other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after acquiring an additional 81 shares during the last quarter. Arkadios Wealth Advisors grew its stake in Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after buying an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in Coinbase Global by 2.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock worth $669,000 after buying an additional 90 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after buying an additional 100 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in Coinbase Global by 10.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after buying an additional 125 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 5.7 %

NASDAQ:COIN opened at $236.32 on Monday. The firm has a market capitalization of $57.25 billion, a price-to-earnings ratio of 875.26 and a beta of 3.41. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. 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 business’s fifty day moving average price is $231.74 and its 200 day moving average price is $162.07.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. Coinbase Global’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.46) earnings per share. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $232.37, for a total value of $3,806,220.60. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $1,083,308.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $232.37, for a total value of $3,806,220.60. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $1,083,308.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 532,208 shares of company stock valued at $99,652,403. Company insiders own 33.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COIN. Piper Sandler upped their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Wedbush upped their price objective on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Oppenheimer upped their price objective on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, Sanford C. Bernstein increased their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. 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. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $165.43.

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.