Blueprint Investment Partners LLC Takes $516,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Blueprint Investment Partners LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,080 shares of the cryptocurrency exchange’s stock, valued at approximately $516,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its stake in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after buying an additional 40 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after acquiring an additional 40 shares during the period. Empowered Funds LLC boosted its position in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after purchasing an additional 43 shares during the last quarter. Yousif Capital Management LLC grew its stake in Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the period. Finally, Capital Advisors Wealth Management LLC increased its position in shares of Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $2,846,236.91. This trade represents a 52.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by insiders.

Coinbase Global Stock Down 0.3 %

COIN opened at $189.86 on Friday. The firm has a market capitalization of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a fifty day moving average price of $247.26 and a 200-day moving average price of $240.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) 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%. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Bank of America decreased their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

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.