Capital Advisors Wealth Management LLC Acquires 45 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Capital Advisors Wealth Management LLC grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,470 shares of the cryptocurrency exchange’s stock after acquiring an additional 45 shares during the period. Capital Advisors Wealth Management LLC’s holdings in Coinbase Global were worth $365,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COIN. Banco Santander S.A. lifted its stake in Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after acquiring an additional 16,737 shares during the period. Global Retirement Partners LLC raised its holdings in Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $29,756,000. Lindbrook Capital LLC boosted its stake in shares of Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Coinbase Global during the second quarter valued at about $2,908,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC raised their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. B. Riley initiated coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday. Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho lifted their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $284.17.

Coinbase Global Stock Performance

Shares of COIN stock opened at $281.63 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average price of $290.19 and a 200-day moving average price of $230.45. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The firm has a market capitalization of $70.51 billion, a PE ratio of 48.06 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $281.94, for a total value of $6,440,073.48. Following the transaction, the director now owns 10,417 shares in the company, valued at $2,936,968.98. This represents a 68.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now owns 74,956 shares of the company’s stock, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,333 shares of company stock worth $95,092,118 in the last ninety days. 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.