Koshinski Asset Management Inc. Bought a New Stake in Coinbase Global, Inc. (NASDAQ:COIN) During the Fourth Quarter

Koshinski Asset Management Inc. acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission.

Koshinski Asset Management Inc. picked up a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,120 shares of the cryptocurrency exchange's stock, valued at approximately $278,000.

Other large investors also recently added to or reduced their stakes in the company. Clear Street Derivatives LLC bought a new position in Coinbase Global in the third quarter worth approximately $409,919,000. Geode Capital Management LLC raised its holdings in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Azora Capital LP raised its holdings in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange's stock worth $57,525,000 after purchasing an additional 220,078 shares during the period. Holocene Advisors LP purchased a new position in Coinbase Global during the third quarter valued at $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global during the third quarter valued at about $29,756,000.

68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 0.1%

Shares of COIN opened at $296.01 on Friday. The business's 50 day simple moving average is $290.70 and its 200-day simple moving average is $233.19. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $74.11 billion, a price-to-earnings ratio of 50.51 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company earned ($0.01) EPS. Coinbase Global's revenue for the quarter was up 78.8% compared to the same quarter last year.

As a group, equities analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler raised their price objective on Coinbase Global from $245.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. JMP Securities restated a "market outperform" rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Canaccord Genuity Group restated a "buy" rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price