Vanguard Capital Wealth Advisors Invests $437,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Vanguard Capital Wealth Advisors bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,760 shares of the cryptocurrency exchange's stock, valued at approximately $437,000.

A number of other large investors also recently added to or reduced their stakes in COIN. Savant Capital LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth about $591,000. Principal Financial Group Inc. increased its holdings in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after purchasing an additional 36,843 shares during the period. Oxinas Partners Wealth Management LLC purchased a new position in Coinbase Global during the fourth quarter worth about $265,000. Robeco Institutional Asset Management B.V. raised its position in Coinbase Global by 33.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange's stock worth $25,729,000 after acquiring an additional 25,972 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Coinbase Global by 9.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange's stock valued at $22,413,000 after purchasing an additional 7,597 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 15,517 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $2,718,628.66. This represents a 59.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,764 shares of company stock valued at $35,671,592. 17.65% of the stock is owned by company insiders.

Coinbase Global Stock Down 0.9%

COIN opened at $263.99 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The firm has a market capitalization of $67.02 billion, a P/E ratio of 27.79 and a beta of 3.62. The company has a fifty day moving average price of $193.10 and a 200-day moving average price of $245.31.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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 net margin of 39.34% and a return on equity of 20.64%. 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 company earned $2.53 EPS. The company's quarterly revenue was up 24.2% on a year-over-year basis. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on COIN. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Citigroup restated a "neutral" rating on shares of Coinbase Global in a research note on Thursday, May 8th. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target on the stock in a research report on Tuesday, May 13th. Finally, Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $266.40.

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.

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