CV Advisors LLC Buys 2,909 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

CV Advisors LLC lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 69.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,093 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,909 shares during the quarter. Coinbase Global accounts for approximately 0.6% of CV Advisors LLC’s portfolio, making the stock its 15th largest position. CV Advisors LLC’s holdings in Coinbase Global were worth $1,761,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of COIN. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global in the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.2 %

COIN opened at $183.12 on Friday. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The business has a fifty day simple moving average of $255.08 and a 200-day simple moving average of $240.79. The firm has a market cap of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COIN. Mizuho lowered their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. The Goldman Sachs Group dropped their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays boosted 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. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Finally, Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.67.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This represents a 52.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 in the last quarter. Company insiders own 23.43% of the company’s stock.

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.