1,225 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by MIG Capital LLC

MIG Capital LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,225 shares of the cryptocurrency exchange’s stock, valued at approximately $304,000.

A number of other large investors also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global during the fourth quarter valued at $50,000. Finally, Bogart Wealth LLC boosted its holdings in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 149 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN stock opened at $160.55 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The company’s 50 day moving average price is $226.99 and its two-hundred day moving average price is $242.60. The company has a market capitalization of $40.76 billion, a P/E ratio of 16.90 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last issued 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, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 190,609 shares of company stock valued at $52,238,258 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COIN has been the subject of several recent research reports. Piper Sandler boosted their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Mizuho dropped their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group started coverage on Coinbase Global in a research report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

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.