Envestnet Portfolio Solutions Inc. Purchases 232 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Envestnet Portfolio Solutions Inc. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 10.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,456 shares of the cryptocurrency exchange’s stock after purchasing an additional 232 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Coinbase Global were worth $610,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COIN. Prospera Financial Services Inc raised its stake in Coinbase Global by 3.6% during the third quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock worth $353,000 after acquiring an additional 68 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Coinbase Global by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after purchasing an additional 52,856 shares in the last quarter. Cerity Partners LLC lifted its stake in Coinbase Global by 11.0% in the 3rd quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock valued at $2,513,000 after purchasing an additional 1,393 shares during the last quarter. Swedbank AB boosted its position in Coinbase Global by 1.6% in the third quarter. Swedbank AB now owns 46,206 shares of the cryptocurrency exchange’s stock valued at $8,233,000 after buying an additional 730 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Coinbase Global by 61.5% during the third quarter. Westfield Capital Management Co. LP now owns 328,270 shares of the cryptocurrency exchange’s stock worth $58,488,000 after buying an additional 124,968 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 6.9 %

Shares of Coinbase Global stock opened at $203.04 on Tuesday. The stock’s 50-day moving average is $246.30 and its 200 day moving average is $241.82. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The firm has a market cap of $51.55 billion, a price-to-earnings ratio of 21.37 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on COIN shares. JMP Securities increased their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Rosenblatt Securities assumed coverage on Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. HC Wainwright reiterated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.72.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. This represents a 49.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,034 shares of company stock worth $57,835,408. 23.43% of the stock is currently owned by company 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.