Whitaker Myers Wealth Managers LTD. Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Whitaker Myers Wealth Managers LTD. purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,022 shares of the cryptocurrency exchange’s stock, valued at approximately $254,000.

A number of other hedge funds also recently bought and sold shares of the business. Kera Capital Partners Inc. purchased a new position in Coinbase Global during the fourth quarter worth approximately $8,559,000. HB Wealth Management LLC lifted its position in shares of Coinbase Global by 21.5% in the fourth quarter. HB Wealth Management LLC now owns 1,540 shares of the cryptocurrency exchange’s stock valued at $382,000 after acquiring an additional 272 shares in the last quarter. Sara Bay Financial purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $230,000. Premier Path Wealth Partners LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $319,000. Finally, Merit Financial Group LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $322,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler raised their target price on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Mizuho raised their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. B. Riley initiated coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $282.83.

Coinbase Global Trading Up 4.9 %

Shares of NASDAQ COIN opened at $295.48 on Friday. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $291.21 and a 200-day simple moving average of $231.26. The stock has a market capitalization of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Insider Activity

In related news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 347,033 shares of company stock valued at $102,613,277. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Company Profile

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.