ICA Group Wealth Management LLC Buys Shares of 805 Coinbase Global, Inc. (NASDAQ:COIN)

ICA Group Wealth Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 805 shares of the cryptocurrency exchange’s stock, valued at approximately $140,000.

Several other large investors also recently added to or reduced their stakes in COIN. Norges Bank bought a new position in Coinbase Global during the fourth quarter worth about $202,936,000. a16z Perennial Management L.P. purchased a new position in Coinbase Global in the 4th quarter valued at approximately $147,646,000. Morgan Stanley grew its stake in Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares in the last quarter. Hamilton Lane Advisors LLC bought a new stake in Coinbase Global during the 4th quarter valued at $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock worth $55,047,000 after acquiring an additional 430,546 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total value of $297,700.00. Following the completion of the sale, the director now owns 4,833 shares of the company’s stock, valued at $1,256,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Jennifer N. Jones sold 15,580 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the sale, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at $529,287.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The disclosure for this sale can be found here. Insiders have sold a total of 377,803 shares of company stock worth $86,110,620 in the last 90 days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $245.10 on Tuesday. The stock has a market capitalization of $60.19 billion, a price-to-earnings ratio of 48.92 and a beta of 3.44. The company has a fifty day moving average of $228.90 and a 200-day moving average of $196.80. Coinbase Global, Inc. has a 52-week low of $53.63 and a 52-week high of $283.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. Equities research analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Canaccord Genuity Group boosted their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Finally, Singular Research restated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $214.67.

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.