Westpac Banking Corp Increases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Westpac Banking Corp increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 47.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,069 shares of the cryptocurrency exchange’s stock after purchasing an additional 344 shares during the period. Westpac Banking Corp’s holdings in Coinbase Global were worth $265,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. lifted its stake in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after buying an additional 40 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after acquiring an additional 40 shares during the period. Yousif Capital Management LLC raised its position in Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its stake in 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 worth $365,000 after purchasing an additional 45 shares during the period. Finally, IPG Investment Advisors LLC grew its position in Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after purchasing an additional 45 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COIN has been the subject of a number of research reports. Bank of America reduced their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. JMP Securities upped their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. HC Wainwright restated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $142,540.74. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $3,230,728.38. The trade was a 49.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 190,609 shares of company stock worth $52,238,258. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

NASDAQ COIN opened at $160.55 on Friday. The business has a 50 day moving average price of $226.99 and a 200 day moving average price of $242.05. The company has a market capitalization of $40.76 billion, a P/E ratio of 16.90 and a beta of 3.66. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.