Coinbase Global, Inc. (NASDAQ:COIN) Position Lifted by Windle Wealth LLC

Windle Wealth LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 14.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,868 shares of the cryptocurrency exchange’s stock after purchasing an additional 996 shares during the period. Coinbase Global accounts for approximately 1.1% of Windle Wealth LLC’s holdings, making the stock its 25th biggest holding. Windle Wealth LLC’s holdings in Coinbase Global were worth $1,954,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC grew its position in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares during the period. Clear Street Derivatives LLC acquired a new stake in Coinbase Global during the 3rd quarter valued at $409,919,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coinbase Global by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after purchasing an additional 15,954 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after acquiring an additional 417,036 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 7.0 %

Shares of COIN stock opened at $191.69 on Wednesday. The stock has a market cap of $48.67 billion, a P/E ratio of 20.18 and a beta of 3.66. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $259.55 and a 200 day simple moving average of $241.43. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on COIN. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Rosenblatt Securities began coverage on shares of Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 price target for the company. Bank of America lowered their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, HC Wainwright restated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus price target of $307.89.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % 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, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global 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 transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,455 shares of company stock worth $60,955,968. 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.