Wealthcare Advisory Partners LLC Increases Position in Coinbase Global, Inc. (NASDAQ:COIN)

Wealthcare Advisory Partners LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 87.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,355 shares of the cryptocurrency exchange's stock after purchasing an additional 1,561 shares during the period. Wealthcare Advisory Partners LLC's holdings in Coinbase Global were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth about $25,000. Copia Wealth Management acquired a new stake in Coinbase Global in the 4th quarter valued at about $26,000. Atala Financial Inc acquired a new stake in Coinbase Global in the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new stake in Coinbase Global in the 4th quarter valued at about $35,000. Finally, Ameriflex Group Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 220,717 shares of company stock worth $49,363,601. 17.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on COIN shares. Rosenblatt Securities reiterated a "buy" rating and issued a $300.00 price objective on shares of Coinbase Global in a report on Monday. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a report on Monday, May 12th. The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. William Blair started coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They set an "outperform" rating for the company. Finally, Keefe, Bruyette & Woods increased their price objective 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. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $268.00.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded up $18.86 on Monday, reaching $261.57. 11,925,210 shares of the stock were exchanged, compared to its average volume of 10,120,728. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average price of $223.36 and a two-hundred day moving average price of $240.64. The firm has a market capitalization of $66.41 billion, a PE ratio of 27.53 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 (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the firm earned $2.53 earnings per share. The company's revenue was up 24.2% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.