SVB Wealth LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

SVB Wealth LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,602 shares of the cryptocurrency exchange’s stock, valued at approximately $894,000.

Several other hedge funds have also modified their holdings of the stock. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the 3rd quarter worth about $409,919,000. Proficio Capital Partners LLC grew its position in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after buying an additional 417,036 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Coinbase Global by 10.1% during the third 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 in the last quarter. Azora Capital LP increased its stake in shares of Coinbase Global by 214.1% during the third 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 period. Finally, Holocene Advisors LP acquired a new stake in Coinbase Global in the third quarter valued at approximately $38,535,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,069 shares of company stock valued at $63,431,584 in the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 4.6 %

COIN stock opened at $205.75 on Tuesday. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $52.24 billion, a price-to-earnings ratio of 21.66 and a beta of 3.61. The company has a fifty day moving average price of $266.87 and a 200 day moving average price of $241.32.

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

Wall Street Analyst Weigh In

Several research analysts have commented on COIN shares. JMP Securities boosted their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Bank of America lowered their target price 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. Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Keefe, Bruyette & Woods raised their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $311.56.

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.