Cottage Street Advisors LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Cottage Street Advisors LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,523 shares of the cryptocurrency exchange’s stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after purchasing an additional 16,363 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Coinbase Global in the 4th quarter valued at about $252,000. Virtu Financial LLC acquired a new position in Coinbase Global during the third quarter worth about $3,866,000. Blueshift Asset Management LLC grew its position in shares of Coinbase Global by 916.8% in the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock valued at $3,359,000 after purchasing an additional 16,998 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $591,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,034 shares of company stock worth $57,835,408 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 0.6 %

Shares of Coinbase Global stock opened at $204.23 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $245.27 and a 200 day moving average price of $242.22. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The firm has a market cap of $51.85 billion, a P/E ratio of 21.50 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released 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 net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a report on Friday, March 7th. They issued a “buy” rating and a $305.00 price target on the stock. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Finally, JMP Securities lifted their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global 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.