256 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by IMG Wealth Management Inc.

IMG Wealth Management Inc. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 256 shares of the cryptocurrency exchange’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GWN Securities Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $240,000. Harbour Investments Inc. raised its holdings in shares of Coinbase Global by 16.6% during the fourth quarter. Harbour Investments Inc. now owns 3,165 shares of the cryptocurrency exchange’s stock worth $786,000 after acquiring an additional 450 shares in the last quarter. Corient Private Wealth LLC increased its position in Coinbase Global by 7.3% during the fourth quarter. Corient Private Wealth LLC now owns 10,042 shares of the cryptocurrency exchange’s stock worth $2,493,000 after buying an additional 686 shares during the last quarter. CV Advisors LLC increased its position in Coinbase Global by 69.5% during the fourth quarter. CV Advisors LLC now owns 7,093 shares of the cryptocurrency exchange’s stock worth $1,761,000 after buying an additional 2,909 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Coinbase Global by 10.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange’s stock worth $610,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.2 %

COIN opened at $183.12 on Monday. The stock has a market capitalization of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The firm’s fifty day simple moving average is $255.08 and its 200 day simple moving average is $241.14. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

Analysts Set New Price Targets

Several equities analysts have commented on COIN shares. JMP Securities increased their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. The Goldman Sachs Group lowered their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Bank of America lowered their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $316.67.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock valued at $60,955,968 in the last three months. 23.43% of the stock is currently 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.