Grant Private Wealth Management Inc Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Grant Private Wealth Management Inc acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,089 shares of the cryptocurrency exchange’s stock, valued at approximately $1,760,000. Coinbase Global accounts for approximately 1.9% of Grant Private Wealth Management Inc’s portfolio, making the stock its 13th largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter worth $50,000. Finally, Bogart Wealth LLC raised its holdings in Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock opened at $182.95 on Thursday. The company’s 50-day moving average price is $232.25 and its 200-day moving average price is $242.55. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $46.45 billion, a PE ratio of 19.26 and a beta of 3.66. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on COIN. The Goldman Sachs Group began coverage on Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price target for the company. Keefe, Bruyette & Woods boosted 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. Canaccord Genuity Group raised their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $305.00 price target on shares of Coinbase Global in a report on Wednesday, March 26th. Finally, Bank of America reduced their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $104,226.90. This represents a 95.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,609 shares of company stock worth $58,765,008 over the last three months. 23.43% of the stock is owned by insiders.

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.