2,235 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Chokshi & Queen Wealth Advisors Inc

Chokshi & Queen Wealth Advisors Inc bought a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,235 shares of the cryptocurrency exchange's stock, valued at approximately $555,000. Coinbase Global makes up approximately 0.3% of Chokshi & Queen Wealth Advisors Inc's portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Savant Capital LLC purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $591,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Coinbase Global by 33.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange's stock worth $25,729,000 after buying an additional 25,972 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Coinbase Global by 198.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange's stock worth $3,380,000 after buying an additional 9,045 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $322,000. Finally, KCM Investment Advisors LLC purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $507,000. Institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target on the stock. Benchmark upped their price target on Coinbase Global from $252.00 to $301.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Piper Sandler increased their target price on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, May 12th. Finally, Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and an average target price of $266.10.

Coinbase Global Price Performance

NASDAQ:COIN traded down $5.45 on Thursday, reaching $248.84. 7,658,543 shares of the company's stock traded hands, compared to its average volume of 10,170,309. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a 50-day simple moving average of $203.87 and a 200-day simple moving average of $246.61. The firm has a market cap of $63.18 billion, a PE ratio of 26.19 and a beta of 3.62. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the transaction, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $260.98, for a total value of $4,049,626.66. Following the transaction, the director now owns 10,417 shares of the company's stock, valued at approximately $2,718,628.66. The trade was a 59.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 170,717 shares of company stock valued at $36,801,351 over the last ninety days. 17.65% of the stock is currently owned by company insiders.

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.