Orion Portfolio Solutions LLC Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Orion Portfolio Solutions LLC raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 64.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,023 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,918 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Coinbase Global were worth $2,489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of COIN. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $50,000. Finally, Bogart Wealth LLC increased its stake in Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $174.52 on Wednesday. The company has a 50 day moving average of $234.50 and a two-hundred day moving average of $242.97. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company has a market cap of $44.31 billion, a price-to-earnings ratio of 18.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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%. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

COIN has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. JMP Securities boosted their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Piper Sandler raised their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Barclays upped their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,609 shares of company stock worth $61,331,908. Insiders own 23.43% of the company’s stock.

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.