World Investment Advisors Invests $224,000 in Coinbase Global, Inc. (NASDAQ:COIN)

World Investment Advisors purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 900 shares of the cryptocurrency exchange’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted 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. acquired a new position in shares of Coinbase Global during the 4th quarter valued at $50,000. Finally, Bogart Wealth LLC lifted its position in shares of Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COIN shares. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Bank of America dropped their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Barclays decreased their price target on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating for the company in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $298.74.

Insider Activity

In related news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. The trade was a 96.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,767 shares of company stock worth $48,326,134. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 16.9 %

Shares of Coinbase Global stock opened at $177.09 on Thursday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The firm has a market cap of $44.96 billion, a PE ratio of 18.64 and a beta of 3.65. 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 50 day simple moving average of $214.42 and a two-hundred day simple moving average of $241.91.

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

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.