Signature Resources Capital Management LLC Buys Shares of 223 Coinbase Global, Inc. (NASDAQ:COIN)

Signature Resources Capital Management LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 223 shares of the cryptocurrency exchange’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barrett & Company Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $26,000. AlphaMark Advisors LLC purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its position in Coinbase Global by 68.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after acquiring an additional 100 shares during the period. Coston McIsaac & Partners purchased a new position in shares of Coinbase Global during the 4th quarter worth $52,000. Finally, Steph & Co. grew its position in shares of Coinbase Global by 100.0% during the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 150 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock valued at $86,053,862 in the last ninety days. Insiders own 33.16% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several analyst reports. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup increased their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Finally, Mizuho lifted their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $185.48.

Coinbase Global Price Performance

Coinbase Global stock traded down $5.60 during mid-day trading on Friday, reaching $223.25. 13,739,132 shares of the company’s stock traded hands, compared to its average volume of 9,158,455. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $236.37 and a two-hundred day moving average of $165.79. The company has a market cap of $54.09 billion, a price-to-earnings ratio of 44.56 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.46) EPS. Equities analysts forecast that Coinbase Global, Inc. will post 2.71 earnings per share for the current year.

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.