Wealthcare Advisory Partners LLC Raises Position in Coinbase Global, Inc. (NASDAQ:COIN)

Wealthcare Advisory Partners LLC increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,794 shares of the cryptocurrency exchange’s stock after purchasing an additional 135 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Coinbase Global were worth $445,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the third quarter valued at approximately $32,000. Brown Brothers Harriman & Co. increased its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after purchasing an additional 181 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $55,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on COIN shares. Needham & Company LLC upped their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group dropped their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt increased their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $282.83.

Coinbase Global Stock Up 4.9 %

Shares of NASDAQ:COIN opened at $295.48 on Tuesday. The firm has a market cap of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a fifty day simple moving average of $290.63 and a 200 day simple moving average of $231.81.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.69 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total value of $304,950.00. Following the sale, the chief operating officer now owns 175,101 shares in the company, valued at $35,598,033.30. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 347,033 shares of company stock worth $102,613,277. 23.43% of the stock is currently owned by corporate 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.