White Knight Strategic Wealth Advisors LLC Invests $326,000 in Coinbase Global, Inc. (NASDAQ:COIN)

White Knight Strategic Wealth Advisors LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,314 shares of the cryptocurrency exchange's stock, valued at approximately $326,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 106 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at $35,000. Finally, Brooklands Fund Management Ltd bought a new stake in shares of Coinbase Global during the 4th quarter valued at $37,245,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. This represents a 95.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now owns 83,313 shares of the company's stock, valued at $17,656,524.09. This represents a 11.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,764 shares of company stock worth $35,671,592 in the last ninety days. 17.65% of the stock is owned by company insiders.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded down $8.79 during trading on Friday, hitting $263.16. 9,253,825 shares of the stock traded hands, compared to its average volume of 10,199,946. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $66.81 billion, a price-to-earnings ratio of 27.70 and a beta of 3.62. The firm's fifty day moving average is $199.59 and its 200-day moving average is $246.59. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 earnings per share. Research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COIN. JPMorgan Chase & Co. decreased their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective on the stock in a research note on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Thursday, May 8th. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Finally, Piper Sandler upped their target price on Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.