IronOak Wealth LLC. Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

IronOak Wealth LLC. acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,082 shares of the cryptocurrency exchange's stock, valued at approximately $765,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SOA Wealth Advisors LLC. boosted its stake in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange's stock worth $66,000 after purchasing an additional 40 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after purchasing an additional 40 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. IPG Investment Advisors LLC increased its holdings in Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock valued at $561,000 after purchasing an additional 45 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its holdings in shares of Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Wall Street Analyst Weigh In

COIN has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Needham & Company LLC reduced their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Cantor Fitzgerald initiated coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Eleven investment 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. According to MarketBeat.com, Coinbase Global has an average rating of "Moderate Buy" and an average target price of $266.10.

Coinbase Global Stock Down 2.1%

NASDAQ COIN traded down $5.45 during trading hours on Thursday, hitting $248.84. 7,666,571 shares of the company traded hands, compared to its average volume of 10,183,909. The business's 50-day moving average is $204.79 and its 200-day moving average is $246.09. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $63.18 billion, a price-to-earnings ratio of 26.19 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during 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 quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the sale, the director now owns 10,417 shares in the company, valued at $2,632,167.56. This represents a 74.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. This represents a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 170,717 shares of company stock worth $36,801,351 over the last 90 days. Company insiders own 17.65% of the company's stock.

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.