Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by RWA Wealth Partners LLC

RWA Wealth Partners LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 8.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,509 shares of the cryptocurrency exchange’s stock after purchasing an additional 201 shares during the period. RWA Wealth Partners LLC’s holdings in Coinbase Global were worth $623,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Coinbase Global in the 4th quarter valued at about $536,484,000. Proficio Capital Partners LLC grew its position in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $56,142,000. Finally, Trivest Advisors Ltd acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $54,869,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COIN. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Barclays lifted their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Finally, JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Trading Up 1.3 %

Shares of COIN stock opened at $174.52 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 18.37 and a beta of 3.66. The firm’s 50 day moving average price is $234.50 and its two-hundred day moving average price is $242.97. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,609 shares of company stock valued at $61,331,908 over the last 90 days. 23.43% of the stock is owned by corporate insiders.

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.