Impact Partnership Wealth LLC Increases Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Impact Partnership Wealth LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,942 shares of the cryptocurrency exchange’s stock after purchasing an additional 200 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Coinbase Global were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global in the third quarter worth approximately $409,919,000. Geode Capital Management LLC raised its holdings in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Azora Capital LP grew its holdings in shares of Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after acquiring an additional 220,078 shares during the period. Holocene Advisors LP bought a new position in shares of Coinbase Global in the 3rd quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global during the third quarter valued at approximately $29,756,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Oppenheimer decreased their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $282.83.

Coinbase Global Stock Performance

Shares of COIN stock opened at $296.01 on Friday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company’s fifty day moving average price is $290.70 and its two-hundred day moving average price is $233.19. 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 firm has a market capitalization of $74.11 billion, a P/E ratio of 50.51 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned ($0.01) earnings per share. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 367,489 shares of company stock valued at $109,624,297 over the last 90 days. 23.43% of the stock is currently owned by company 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.