Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Accurate Wealth Management LLC

Accurate Wealth Management LLC raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 10.1% in the 4th quarter, HoldingsChannel reports. The fund owned 2,338 shares of the cryptocurrency exchange’s stock after buying an additional 214 shares during the quarter. Accurate Wealth Management LLC’s holdings in Coinbase Global were worth $605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Empowered Funds LLC boosted its position in shares of Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after acquiring an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after purchasing an additional 51 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Coinbase Global by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after purchasing an additional 51 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after purchasing an additional 61 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Coinbase Global by 3.9% in the 3rd quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange’s stock valued at $314,000 after purchasing an additional 66 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,333 shares of company stock valued at $95,092,118 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COIN. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Piper Sandler upped their target price on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Mizuho upped their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Oppenheimer upped their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $284.17.

Coinbase Global Stock Performance

Shares of COIN stock opened at $274.89 on Thursday. The company has a market cap of $68.82 billion, a price-to-earnings ratio of 46.91 and a beta of 3.57. The stock has a 50 day simple moving average of $289.78 and a 200-day simple moving average of $230.14. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period last year, the company posted ($0.01) earnings per share. On average, equities analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current 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.