Wedmont Private Capital Grows Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Wedmont Private Capital lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 21.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,766 shares of the cryptocurrency exchange’s stock after buying an additional 317 shares during the quarter. Wedmont Private Capital’s holdings in Coinbase Global were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Empowered Funds LLC raised its stake in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after acquiring an additional 51 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Coinbase Global by 3.9% in the third quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange’s stock worth $314,000 after purchasing an additional 66 shares during the period. Finally, Prospera Financial Services Inc increased its stake in Coinbase Global by 3.6% during the third quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock valued at $353,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on COIN shares. Barclays raised their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Mizuho raised their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Oppenheimer upped their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average price target of $284.17.

Coinbase Global Stock Up 7.6 %

COIN opened at $274.89 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $68.82 billion, a PE ratio of 46.91 and a beta of 3.57. The stock’s fifty day moving average is $289.78 and its 200-day moving average is $230.14. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results 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). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,333 shares of company stock worth $95,092,118. Corporate insiders own 23.43% of the company’s stock.

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.