Magnolia Capital Advisors LLC Invests $281,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Magnolia Capital Advisors LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,617 shares of the cryptocurrency exchange’s stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Barrett & Company Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $26,000. AlphaMark Advisors LLC bought a new stake in Coinbase Global in the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC lifted its position in shares of Coinbase Global by 68.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. Coston McIsaac & Partners bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $52,000. Finally, Steph & Co. increased its holdings in shares of Coinbase Global by 100.0% during the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded down $12.06 during midday trading on Wednesday, hitting $224.37. 6,718,393 shares of the company traded hands, compared to its average volume of 13,675,555. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The stock has a market cap of $54.36 billion, a price-to-earnings ratio of 831.00 and a beta of 3.41. 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’s fifty day moving average price is $229.46 and its 200-day moving average price is $159.37.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a research note on Wednesday, April 3rd. Sanford C. Bernstein boosted their price objective on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Wedbush increased their target price on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, Barclays upped their price objective on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $165.43.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at approximately $29,333,751.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 607,358 shares of company stock valued at $106,945,156. Company insiders own 33.16% of the company’s stock.

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.