By otakuyassine3@gmail.com 
Kingsview Wealth Management LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 15.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,930 shares of the cryptocurrency exchange’s stock after purchasing an additional 258 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Coinbase Global were worth $479,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $241,000. SOA Wealth Advisors LLC. boosted its holdings in shares of 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 acquiring an additional 40 shares during the period. Realta Investment Advisors boosted its holdings in shares of Coinbase Global by 63.6% in the fourth quarter. Realta Investment Advisors now owns 6,684 shares of the cryptocurrency exchange’s stock valued at $1,809,000 after acquiring an additional 2,598 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $195,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Coinbase Global by 5.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,114 shares of the cryptocurrency exchange’s stock valued at $4,498,000 after acquiring an additional 898 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.
Coinbase Global Trading Up 8.4 %
NASDAQ:COIN opened at $298.11 on Friday. The stock has a fifty day moving average price of $282.36 and a two-hundred day moving average price of $237.88. The stock has a market capitalization of $74.63 billion, a price-to-earnings ratio of 50.87 and a beta of 3.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.
Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
COIN has been the subject of several research analyst reports. Piper Sandler increased their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Oppenheimer decreased their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Barclays increased their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, HC Wainwright increased their price target on Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.00.
Get Our Latest Analysis on Coinbase Global
Insider Activity
In other news, CEO Brian Armstrong sold 58,269 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 26,649 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $308.14, for a total value of $8,211,622.86. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,209,894.38. This represents a 71.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 386,798 shares of company stock worth $114,707,944 over the last 90 days. 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.
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