Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.4% during the fourth quarter, Holdings Channel reports. The fund 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 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in COIN. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the third quarter valued at $409,919,000. Geode Capital Management LLC boosted its stake in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the last quarter. Azora Capital LP boosted its stake in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares during the last quarter. Holocene Advisors LP acquired a new stake in Coinbase Global in the 3rd quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Coinbase Global in the 3rd quarter worth about $29,756,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $298.11 on Friday. The company has a market cap of $74.63 billion, a P/E 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 one year low of $146.12 and a one year high of $349.75. The business’s 50-day simple moving average is $282.36 and its 200 day simple moving average is $237.88.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the sale, the chief accounting officer now owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 386,798 shares of company stock worth $114,707,944 in the last three months. 23.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on COIN shares. Piper Sandler raised their price target on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays raised their price target on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $286.00.

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.