Mach 1 Financial Group LLC Acquires Shares of 4,208 Coinbase Global, Inc. (NASDAQ:COIN)

Mach 1 Financial Group LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,208 shares of the cryptocurrency exchange’s stock, valued at approximately $732,000.

Several other large investors have also bought and sold shares of the company. Morgan Stanley lifted its holdings in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Coinbase Global by 142.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock worth $55,047,000 after purchasing an additional 430,546 shares during the period. International Assets Investment Management LLC bought a new stake in Coinbase Global in the 4th quarter worth approximately $34,422,000. Vanguard Group Inc. grew its position in shares of Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after acquiring an additional 176,525 shares during the period. Finally, Barclays PLC grew its position in shares of Coinbase Global by 41.5% during the 3rd quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after acquiring an additional 118,670 shares during the period. 68.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at $14,644,039.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total transaction of $193,965.00. Following the sale, the chief operating officer now owns 233,142 shares of the company’s stock, valued at $30,147,592.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 542,208 shares of company stock valued at $101,867,103. 33.16% of the stock is currently owned by insiders.

Coinbase Global Stock Down 6.5 %

COIN stock traded down $14.23 during trading on Tuesday, hitting $203.93. 9,095,297 shares of the company’s stock traded hands, compared to its average volume of 13,376,370. The firm has a market capitalization of $49.41 billion, a P/E ratio of 755.30 and a beta of 3.41. The business has a fifty day simple moving average of $233.11 and a two-hundred day simple moving average of $163.99. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 company had revenue of $953.80 million for 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%. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the company posted ($2.46) earnings per share. Sell-side analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COIN shares. Barclays boosted their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Citigroup upped their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Sanford C. Bernstein upped their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Finally, JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $167.81.

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.