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) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,208 shares of the cryptocurrency exchange’s stock, valued at approximately $732,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. Vanguard Group Inc. increased its position in Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock worth $1,041,602,000 after purchasing an additional 176,525 shares during the period. Morgan Stanley increased its position in Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the period. Northern Trust Corp increased its position in Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after purchasing an additional 37,019 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Coinbase Global by 142.3% during 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. Finally, Charles Schwab Investment Management Inc. increased its position in Coinbase Global by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 618,842 shares of the cryptocurrency exchange’s stock worth $46,463,000 after purchasing an additional 20,296 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 6.5 %

Shares of COIN traded down $14.23 during trading hours on Tuesday, hitting $203.93. The stock had a trading volume of 9,095,297 shares, compared to its average volume of 13,376,370. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $49.41 billion, a P/E ratio of 755.30 and a beta of 3.41. The company’s fifty day simple moving average is $233.11 and its 200 day simple moving average is $163.99. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period last year, the company posted ($2.46) EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COIN. Oppenheimer boosted their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Citigroup upped their price target on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. JPMorgan Chase & Co. upped their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $167.81.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $558,181.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $558,181.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 700 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.29, for a total value of $91,203.00. Following the completion of the transaction, the chief operating officer now directly owns 225,142 shares in the company, valued at $29,333,751.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 542,208 shares of company stock valued at $101,867,103. 33.16% of the stock is currently owned by company insiders.

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.