Main Street Research LLC Invests $217,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Main Street Research LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,250 shares of the cryptocurrency exchange’s stock, valued at approximately $217,000.

Several other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. grew its position in Coinbase Global by 18.4% in the 1st quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after buying an additional 275 shares in the last quarter. United Bank bought a new position in Coinbase Global in the 1st quarter valued at about $286,000. Bank of New York Mellon Corp grew its position in Coinbase Global by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock valued at $13,394,000 after buying an additional 1,844 shares in the last quarter. American Century Companies Inc. lifted its holdings in Coinbase Global by 269.2% in the 1st quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock valued at $1,357,000 after acquiring an additional 5,211 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in Coinbase Global by 26.6% in the 1st quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after acquiring an additional 232 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research analyst reports. HC Wainwright upped their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 16th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, April 3rd. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $163.70.

Coinbase Global Stock Down 4.8 %

Shares of NASDAQ COIN traded down $10.82 during mid-day trading on Tuesday, reaching $212.59. The company had a trading volume of 12,902,366 shares, compared to its average volume of 14,051,439. The stock has a fifty day moving average of $217.78 and a two-hundred day moving average of $152.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $51.50 billion, a price-to-earnings ratio of 777.00 and a beta of 3.41. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.46) earnings per share. As a group, equities research analysts expect that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total value of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at $7,462,698.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total value of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at $7,462,698.30. 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 16,380 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $274.97, for a total value of $4,504,008.60. Following the transaction, the director now owns 4,662 shares in the company, valued at approximately $1,281,910.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 660,039 shares of company stock worth $109,435,051. Insiders own 33.16% of the company’s stock.

Coinbase Global Company 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.