1,662 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,662 shares of the cryptocurrency exchange’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $26,000. Ancora Advisors LLC boosted its stake in Coinbase Global by 144.0% during the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 435 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in Coinbase Global during the 2nd quarter valued at $31,000. AlphaMark Advisors LLC purchased a new stake in Coinbase Global during the 4th quarter valued at $33,000. Finally, Bessemer Group Inc. boosted its stake in Coinbase Global by 100.0% during the 4th quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock valued at $36,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COIN. Oppenheimer increased their price target on Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Barclays increased their price target on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a report on Monday, April 8th. Wedbush increased their price target on Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $163.70.

Insider Activity

In other news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares in the company, valued at $4,933,575. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the completion of the transaction, the director now owns 6,072 shares in the company, valued at $798,893.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The disclosure for this sale can be found here. Insiders sold a total of 590,978 shares of company stock worth $103,440,000 over the last 90 days. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $213.78 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $221.60 and its two-hundred day simple moving average is $154.18. The stock has a market cap of $51.79 billion, a PE ratio of 791.78 and a beta of 3.41. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48.

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

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.