B. Riley Wealth Advisors Inc. Acquires 3,218 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

B. Riley Wealth Advisors Inc. raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 59.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,668 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,218 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Coinbase Global were worth $1,508,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Raymond James & Associates boosted its stake in Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the last quarter. KBC Group NV grew its holdings in shares of Coinbase Global by 26.2% in the 4th quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock valued at $3,793,000 after buying an additional 4,524 shares during the period. Masso Torrence Wealth Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at $302,000. Russell Investments Group Ltd. raised its stake in Coinbase Global by 10.4% during the 4th quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock worth $3,142,000 after buying an additional 1,685 shares during the period. Finally, Mariner LLC lifted its holdings in Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after acquiring an additional 4,259 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $235.95 on Thursday. 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, Inc. has a fifty-two week low of $53.63 and a fifty-two week high of $283.48. The company has a market cap of $57.94 billion, a price-to-earnings ratio of 47.10 and a beta of 3.44. The stock has a fifty day moving average price of $228.76 and a 200-day moving average price of $197.52.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the sale, the director now directly owns 4,662 shares in the company, valued at approximately $943,122.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of Coinbase Global stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $943,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the sale, the chief accounting officer now directly owns 2,212 shares in the company, valued at $529,287.36. The disclosure for this sale can be found here. Insiders have sold 378,158 shares of company stock valued at $86,182,160 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on COIN shares. Canaccord Genuity Group raised their price target on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Wedbush raised their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Finally, Barclays lifted their price target on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $215.50.

Coinbase Global 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.