Proficio Capital Partners LLC Has $103.89 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Proficio Capital Partners LLC raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 30,664.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 418,396 shares of the cryptocurrency exchange’s stock after buying an additional 417,036 shares during the quarter. Proficio Capital Partners LLC’s holdings in Coinbase Global were worth $103,888,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COIN. Assenagon Asset Management S.A. lifted its stake in Coinbase Global by 36.2% in the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after buying an additional 952 shares during the period. abrdn plc lifted its stake in Coinbase Global by 625.1% in the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock valued at $6,198,000 after buying an additional 29,990 shares during the period. Integrated Advisors Network LLC lifted its stake in Coinbase Global by 104.4% in the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after buying an additional 1,005 shares during the period. Pathway Financial Advisers LLC lifted its stake in Coinbase Global by 16,928.6% in the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock valued at $637,000 after buying an additional 3,555 shares during the period. Finally, Golden State Equity Partners lifted its stake in Coinbase Global by 2.5% in the third quarter. Golden State Equity Partners now owns 2,883 shares of the cryptocurrency exchange’s stock valued at $514,000 after buying an additional 69 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 237,069 shares of company stock worth $66,488,684 in the last quarter. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 2.2 %

Shares of NASDAQ:COIN opened at $208.37 on Friday. The company has a market capitalization of $52.90 billion, a PE ratio of 21.93 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business has a fifty day moving average price of $269.37 and a two-hundred day moving average price of $240.48. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COIN. Barclays boosted their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. HC Wainwright restated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Canaccord Genuity Group boosted their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Bank of America decreased their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $311.56.

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.