Premier Path Wealth Partners LLC Buys Shares of 1,284 Coinbase Global, Inc. (NASDAQ:COIN)

Premier Path Wealth Partners LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, Holdings Channel.com reports. The fund purchased 1,284 shares of the cryptocurrency exchange’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Merit Financial Group LLC bought a new position in Coinbase Global in the 4th quarter valued at approximately $322,000. Wealthcare Advisory Partners LLC increased its holdings in shares of Coinbase Global by 8.1% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,794 shares of the cryptocurrency exchange’s stock worth $445,000 after buying an additional 135 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Coinbase Global in the 4th quarter valued at $4,165,000. Capital Advisors Wealth Management LLC boosted its holdings in shares of Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 45 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new stake in Coinbase Global during the 4th quarter worth $369,000. 68.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction 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 owns 74,956 shares in the company, valued at $15,739,260.88. This represents a 11.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 347,033 shares of company stock worth $102,613,277. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Up 4.9 %

Shares of NASDAQ COIN opened at $295.48 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average price of $291.21 and a 200-day moving average price of $231.26. The stock has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted ($0.01) EPS. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts forecast that Coinbase Global, Inc. will post 4.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on COIN shares. Barclays lifted their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Needham & Company LLC boosted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Piper Sandler boosted their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Monness Crespi & Hardt raised their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average target price of $282.83.

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.