Refined Wealth Management increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,808 shares of the cryptocurrency exchange's stock after buying an additional 8,132 shares during the period. Coinbase Global comprises approximately 8.1% of Refined Wealth Management's portfolio, making the stock its 5th largest position. Refined Wealth Management's holdings in Coinbase Global were worth $9,956,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock worth $239,000 after acquiring an additional 40 shares during the last quarter. IPG Investment Advisors LLC lifted its holdings in shares of Coinbase Global by 2.0% during 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 in the last quarter. Vivaldi Capital Management LP grew its position in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after purchasing an additional 47 shares during the period. Transcend Capital Advisors LLC increased its holdings in Coinbase Global by 1.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange's stock valued at $1,159,000 after buying an additional 54 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Coinbase Global by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock valued at $2,746,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Needham & Company LLC decreased their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a report on Monday, May 12th. Canaccord Genuity Group reissued a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, May 9th. JMP Securities reiterated a "market outperform" rating and set a $400.00 price target on shares of Coinbase Global in a research note on Wednesday. Finally, Bank of America dropped their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $286.42.
Check Out Our Latest Stock Analysis on COIN
Insider Activity at Coinbase Global
In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction dated Wednesday, April 23rd. 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 107,291 shares in the company, valued at approximately $21,458,200. This represents a 6.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction on Monday, April 14th. The stock was sold at an average price of $178.79, for a total value of $2,681,850.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $94,043.54. This represents a 96.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 212,915 shares of company stock valued at $48,349,215 over the last ninety days. 17.65% of the stock is owned by company insiders.
Coinbase Global Price Performance
Shares of NASDAQ COIN traded up $10.55 during mid-day trading on Wednesday, reaching $355.37. The company's stock had a trading volume of 30,064,024 shares, compared to its average volume of 10,542,234. The stock has a fifty day moving average of $242.10 and a two-hundred day moving average of $241.14. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $368.92. The firm has a market capitalization of $90.22 billion, a PE ratio of 66.55, a P/E/G ratio of 25.22 and a beta of 3.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.
Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS 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 firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.
About Coinbase Global
(
Free Report)
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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