Strategic Financial Concepts LLC Invests $5.70 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Strategic Financial Concepts LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,939 shares of the cryptocurrency exchange’s stock, valued at approximately $5,696,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. increased its stake in shares of Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares during the period. Empowered Funds LLC increased its position in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after buying an additional 43 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its position in shares of Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 45 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $274.31 on Monday. The stock has a market capitalization of $68.67 billion, a P/E ratio of 46.81 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm has a 50 day moving average of $280.97 and a 200-day moving average of $238.36. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COIN. Oppenheimer reduced their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Barclays boosted their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Finally, The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.17.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 26,649 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,209,894.38. The trade was a 71.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 328,529 shares of company stock worth $95,595,712 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

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.