Lido Advisors LLC Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Lido Advisors LLC raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 64.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in Coinbase Global by 20.3% in the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock worth $321,488,000 after purchasing an additional 218,400 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Coinbase Global by 6.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 11,096 shares of the cryptocurrency exchange’s stock valued at $2,755,000 after buying an additional 691 shares in the last quarter. Bellwether Advisors LLC bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $1,782,000. NZS Capital LLC purchased a new stake in Coinbase Global in the 4th quarter worth approximately $7,996,000. Finally, Quarry LP raised its stake in Coinbase Global by 234.2% during the 4th quarter. Quarry LP now owns 391 shares of the cryptocurrency exchange’s stock worth $97,000 after acquiring an additional 274 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 1.8 %

Shares of NASDAQ:COIN opened at $204.93 on Friday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $188.51 and a 200 day moving average price of $243.40. The company has a market cap of $52.03 billion, a price-to-earnings ratio of 21.57 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COIN. Benchmark initiated coverage on shares of Coinbase Global in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $252.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, Mizuho decreased their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $285.95.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $142,540.74. This represents a 97.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,970 shares of company stock valued at $38,672,615 over the last 90 days. Insiders own 23.43% of the company’s stock.

Coinbase Global 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.