Benjamin Edwards Inc. Purchases 356 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Benjamin Edwards Inc. raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 3.0% in the 4th quarter, Holdings Channel reports. The firm owned 12,043 shares of the cryptocurrency exchange’s stock after buying an additional 356 shares during the period. Benjamin Edwards Inc.’s holdings in Coinbase Global were worth $2,990,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COIN. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter worth $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the fourth quarter worth about $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 purchasing an additional 106 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global during the 4th quarter valued at about $50,000. Finally, BNP Paribas acquired a new position in shares of Coinbase Global in the 4th quarter valued at approximately $50,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $144,786.76. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,074,056.70. This trade represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,742 shares of company stock valued at $27,626,259 in the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $197.32 on Wednesday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a market capitalization of $50.09 billion, a price-to-earnings ratio of 20.77 and a beta of 3.62. The company has a 50-day simple moving average of $188.01 and a 200 day simple moving average of $243.21. 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 (NASDAQ:COIN) last issued its quarterly earnings data 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 return on equity of 20.64% and a net margin of 39.34%. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Compass Point restated a “sell” rating and issued a $180.00 price target on shares of Coinbase Global in a report on Monday, April 28th. Finally, Cantor Fitzgerald assumed coverage on Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $285.95.

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.