RWA Wealth Partners LLC Purchases Shares of 2,261 Coinbase Global, Inc. (NASDAQ:COIN)

RWA Wealth Partners LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, Holdings Channel reports. The firm acquired 2,261 shares of the cryptocurrency exchange’s stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ballentine Partners LLC bought a new position in Coinbase Global in the third quarter worth approximately $201,000. Walter & Keenan Wealth Management LLC IN ADV raised its stake in shares of Coinbase Global by 7.0% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 15,891 shares of the cryptocurrency exchange’s stock worth $1,193,000 after purchasing an additional 1,043 shares during the last quarter. Golden State Equity Partners bought a new position in shares of Coinbase Global in the third quarter valued at approximately $213,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Coinbase Global by 5.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,500 shares of the cryptocurrency exchange’s stock valued at $2,515,000 after buying an additional 1,800 shares during the last quarter. Finally, Xponance Inc. grew its holdings in Coinbase Global by 5.6% during the third quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock worth $470,000 after buying an additional 333 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $223.61 on Friday. The company has a 50 day moving average of $230.62 and a 200 day moving average of $159.82. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a market cap of $54.17 billion, a P/E ratio of 828.19 and a beta of 3.41. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48.

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

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The disclosure for this sale can be found here. Insiders sold a total of 532,208 shares of company stock worth $99,652,403 over the last ninety days. 33.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Oppenheimer lifted their price objective on shares of Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Barclays boosted their target price on Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, April 3rd. Needham & Company LLC raised their price target on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Finally, HC Wainwright upped their price objective on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $165.43.

About Coinbase Global

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.