Lido Advisors LLC Purchases 1,114 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Lido Advisors LLC lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 64.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,844 shares of the cryptocurrency exchange’s stock after buying an additional 1,114 shares during the period. Lido Advisors LLC’s holdings in Coinbase Global were worth $706,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global in the fourth quarter worth $27,000. Atala Financial Inc purchased a new position in Coinbase Global in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC lifted its position in shares of Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total value of $4,271,606.28. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,922,072.67. This trade represents a 59.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $142,540.74. The trade was a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,970 shares of company stock worth $38,672,615. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. The Goldman Sachs Group began coverage on Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Citigroup dropped their target price on Coinbase Global from $350.00 to $270.00 and set a “buy” rating for the company in a report on Friday. Finally, Benchmark initiated coverage on shares of Coinbase Global in a report on Wednesday, April 23rd. They issued a “buy” rating and a $252.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $285.95.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $204.93 on Friday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two 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 company has a 50 day moving average price of $188.51 and a 200 day moving average price of $243.40. The stock has a market capitalization of $52.03 billion, a P/E ratio of 21.57 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.