MSH Capital Advisors LLC Purchases New Position in Coinbase Global, Inc. (NASDAQ:COIN)

MSH Capital Advisors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,369 shares of the cryptocurrency exchange’s stock, valued at approximately $588,000.

Other large investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the fourth quarter valued at approximately $50,000. Finally, Bogart Wealth LLC increased its holdings in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after acquiring an additional 149 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JMP Securities cut their price target on shares of Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Rosenblatt Securities reiterated a “buy” rating and set a $305.00 price target on shares of Coinbase Global in a research report on Wednesday, March 26th. Finally, Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $298.74.

Coinbase Global Stock Down 1.9 %

Shares of Coinbase Global stock opened at $172.21 on Thursday. The company’s 50 day moving average price is $204.11 and its 200-day moving average price is $241.35. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $43.72 billion, a price-to-earnings ratio of 18.13 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (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%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,067 shares of company stock worth $49,486,825. 23.43% of the stock is currently owned by insiders.

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.