Westwood Holdings Group Inc. Invests $602,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Westwood Holdings Group Inc. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,496 shares of the cryptocurrency exchange's stock, valued at approximately $602,000.

A number of other large investors also recently made changes to their positions in COIN. World Investment Advisors bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $224,000. Russell Investments Group Ltd. increased its position in shares of Coinbase Global by 36.8% during the fourth quarter. Russell Investments Group Ltd. now owns 25,920 shares of the cryptocurrency exchange's stock valued at $6,436,000 after acquiring an additional 6,968 shares during the last quarter. Peapack Gladstone Financial Corp bought a new stake in Coinbase Global during the fourth quarter worth $333,000. Cerity Partners LLC boosted its position in Coinbase Global by 0.7% in the fourth quarter. Cerity Partners LLC now owns 14,204 shares of the cryptocurrency exchange's stock worth $3,379,000 after purchasing an additional 98 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Coinbase Global by 26.1% in the fourth quarter. Invesco Ltd. now owns 445,736 shares of the cryptocurrency exchange's stock worth $110,676,000 after purchasing an additional 92,371 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

NASDAQ:COIN opened at $310.79 on Friday. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The stock has a fifty day moving average of $331.59 and a 200 day moving average of $260.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The firm has a market capitalization of $78.90 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 26.26 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the transaction, the director owned 10,417 shares of the company's stock, valued at $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,208,340 shares of company stock worth $442,911,206. 17.65% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup raised their target price on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods decreased their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a report on Monday. Benchmark lifted their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Compass Point reiterated a "sell" rating and issued a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research note on Monday. Finally, Jefferies Financial Group raised their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $352.18.

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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