Next Capital Management LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Next Capital Management LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 895 shares of the cryptocurrency exchange’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This represents a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock valued at $60,955,968 over the last quarter. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Down 4.1 %

COIN stock opened at $181.14 on Wednesday. The company’s 50 day moving average price is $251.44 and its 200 day moving average price is $241.13. The firm has a market capitalization of $45.99 billion, a price-to-earnings ratio of 19.07 and a beta of 3.66. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JMP Securities increased their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Finally, Barclays boosted their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

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.