Wealthcare Advisory Partners LLC Buys 1,561 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Wealthcare Advisory Partners LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 87.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,355 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,561 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Coinbase Global were worth $578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Coinbase Global by 44.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,390 shares of the cryptocurrency exchange’s stock valued at $243,000 after buying an additional 426 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Coinbase Global by 8.5% during the first quarter. Park Avenue Securities LLC now owns 3,599 shares of the cryptocurrency exchange’s stock valued at $620,000 after acquiring an additional 282 shares during the last quarter. KMG Fiduciary Partners LLC bought a new position in shares of Coinbase Global during the first quarter valued at about $1,803,000. Miracle Mile Advisors LLC raised its stake in shares of Coinbase Global by 21.7% during the first quarter. Miracle Mile Advisors LLC now owns 1,765 shares of the cryptocurrency exchange’s stock valued at $304,000 after acquiring an additional 315 shares during the last quarter. Finally, Wedmont Private Capital raised its position in Coinbase Global by 78.8% during the 1st quarter. Wedmont Private Capital now owns 3,158 shares of the cryptocurrency exchange’s stock valued at $554,000 after purchasing an additional 1,392 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COIN. The Goldman Sachs Group upped their target price on Coinbase Global from $189.00 to $209.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Barclays upped their price objective on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Mizuho decreased their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective for the company in a report on Monday, May 12th. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $266.10.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $255.34, for a total value of $6,383,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $134,308.84. The trade was a 97.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 12,931 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total transaction of $3,456,326.99. Following the completion of the sale, the insider now owns 84,280 shares of the company’s stock, valued at $22,527,201.20. This represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,717 shares of company stock valued at $49,363,601. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global Stock Up 0.7%

NASDAQ:COIN opened at $242.71 on Friday. The firm has a market cap of $61.62 billion, a P/E ratio of 25.55 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The firm has a 50-day simple moving average of $221.16 and a two-hundred day simple moving average of $241.85.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global’s revenue was up 24.2% on a year-over-year basis. During the same period last year, the business earned $2.53 EPS. Analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.