Refined Wealth Management Has $9.96 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Refined Wealth Management lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 16.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,808 shares of the cryptocurrency exchange's stock after acquiring an additional 8,132 shares during the period. Coinbase Global accounts for about 8.1% of Refined Wealth Management's portfolio, making the stock its 5th biggest holding. Refined Wealth Management's holdings in Coinbase Global were worth $9,956,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange's stock worth $4,573,462,000 after acquiring an additional 128,802 shares during the period. Geode Capital Management LLC boosted its stake in Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock valued at $882,822,000 after buying an additional 127,075 shares during the last quarter. Norges Bank bought a new position in Coinbase Global during the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment bought a new position in Coinbase Global during the fourth quarter valued at approximately $372,450,000. Finally, Northern Trust Corp boosted its stake in Coinbase Global by 20.3% during the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after buying an additional 218,400 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Jefferies Financial Group reissued a "hold" rating and set a $260.00 price target (up from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. The Goldman Sachs Group increased their price target on Coinbase Global from $189.00 to $209.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. JMP Securities reissued a "market outperform" rating and set a $400.00 price target on shares of Coinbase Global in a research note on Thursday, May 8th. Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a research note on Monday, May 12th. Finally, William Blair initiated coverage on Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating for the company. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average target price of $271.88.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. This trade represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 1,952 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total value of $488,000.00. Following the transaction, the insider now owns 81,773 shares in the company, valued at $20,443,250. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,538 shares of company stock worth $51,299,116. 17.65% of the stock is currently owned by company insiders.

Coinbase Global Trading Up 4.4%

Shares of NASDAQ COIN opened at $308.38 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The business's 50 day moving average price is $232.43 and its 200-day moving average price is $240.43. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a market cap of $78.29 billion, a price-to-earnings ratio of 57.75, a PEG ratio of 22.47 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. The company's quarterly revenue was up 24.2% compared to the same quarter last year. On average, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.

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