Aaron Wealth Advisors LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 842 shares of the cryptocurrency exchange’s stock, valued at approximately $209,000.
Other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global during the third quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new position in Coinbase Global during the 3rd quarter worth approximately $32,000. Abich Financial Wealth Management LLC boosted its stake in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after purchasing an additional 181 shares during the period. Brown Brothers Harriman & Co. boosted its position in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Coinbase Global by 106.9% in the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on COIN shares. Piper Sandler boosted 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. B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Mizuho upped their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $282.83.
Coinbase Global Price Performance
Shares of NASDAQ COIN opened at $294.19 on Wednesday. The firm has a 50-day moving average of $290.14 and a two-hundred day moving average of $232.30. The company has a market capitalization of $73.65 billion, a price-to-earnings ratio of 50.20 and a beta of 3.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75.
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 4.69 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now directly owns 74,956 shares in the company, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at $35,598,033.30. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 347,033 shares of company stock worth $102,613,277 in the last three months. 23.43% of the stock is currently owned by insiders.
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.
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