CW Advisors LLC Invests $638,000 in Coinbase Global, Inc. $COIN

CW Advisors LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,618 shares of the cryptocurrency exchange's stock, valued at approximately $638,000.

Several other large investors have also recently made changes to their positions in the stock. Partners Capital Investment Group LLP bought a new position in shares of Coinbase Global in the 1st quarter worth $320,000. Price T Rowe Associates Inc. MD raised its position in shares of Coinbase Global by 2.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 802,229 shares of the cryptocurrency exchange's stock worth $138,168,000 after acquiring an additional 17,153 shares in the last quarter. Candriam S.C.A. raised its position in shares of Coinbase Global by 70.8% in the 1st quarter. Candriam S.C.A. now owns 21,528 shares of the cryptocurrency exchange's stock worth $3,708,000 after acquiring an additional 8,925 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Coinbase Global in the 1st quarter worth $268,000. Finally, Groupama Asset Managment increased its position in Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after buying an additional 1,500,000 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COIN. Monness Crespi & Hardt lowered Coinbase Global from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Piper Sandler reaffirmed a "neutral" rating and set a $350.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. JMP Securities upped their target price on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Erste Group Bank began coverage on Coinbase Global in a research report on Wednesday, July 23rd. They set a "buy" rating on the stock. Finally, Sanford C. Bernstein upped their target price on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $352.72.

Coinbase Global Stock Up 0.8%

Shares of COIN opened at $308.48 on Wednesday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $79.26 billion, a price-to-earnings ratio of 29.83 and a beta of 3.70. The stock's 50-day moving average price is $347.98 and its 200-day moving average price is $262.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total transaction of $527,713.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider owned 478 shares in the company, valued at $148,834.86. This represents a 92.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,180,432 shares of company stock worth $437,828,135 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

Coinbase Global 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.

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