Allworth Financial LP Purchases 90 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Allworth Financial LP lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,265 shares of the cryptocurrency exchange’s stock after acquiring an additional 90 shares during the quarter. Allworth Financial LP’s holdings in Coinbase Global were worth $562,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the 4th 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 in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global during the 3rd quarter valued at about $25,000. Bogart Wealth LLC lifted its holdings 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 buying an additional 149 shares in the last quarter. Finally, Spirit of America Management Corp NY lifted its holdings in Coinbase Global by 66.7% during the 4th quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock valued at $62,000 after buying an additional 100 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COIN shares. JMP Securities lifted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Oppenheimer decreased their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Finally, Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.39.

Coinbase Global Stock Down 0.8 %

Shares of Coinbase Global stock opened at $256.59 on Friday. The firm’s 50 day moving average price is $277.26 and its 200-day moving average price is $239.47. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a market cap of $64.24 billion, a P/E ratio of 27.01 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts predict that Coinbase Global, Inc. will post 6.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $161,639.80. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 334,306 shares of company stock valued at $97,300,651. Insiders own 23.43% of the company’s stock.

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.