Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 42.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,216 shares of the cryptocurrency exchange’s stock after buying an additional 2,752 shares during the quarter. NewEdge Advisors LLC’s holdings in Coinbase Global were worth $2,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global in the fourth quarter worth about $50,000. Finally, Bogart Wealth LLC grew its stake in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 149 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. Mizuho dropped their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Canaccord Genuity Group raised their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Rosenblatt Securities lowered their price target on shares of Coinbase Global from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.95.

Coinbase Global Stock Down 0.0 %

Coinbase Global stock opened at $175.00 on Tuesday. The firm has a market capitalization of $44.43 billion, a P/E ratio of 18.42 and a beta of 3.65. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The stock’s fifty day simple moving average is $198.17 and its 200-day simple moving average is $242.51.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global 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 value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $178.79, for a total transaction of $2,681,850.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $94,043.54. The trade was a 96.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,611 shares of company stock worth $34,376,005. 23.43% of the stock is currently owned by insiders.

Coinbase Global Company 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.