Corient Private Wealth LLC Purchases 686 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Corient Private Wealth LLC increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,042 shares of the cryptocurrency exchange’s stock after purchasing an additional 686 shares during the quarter. Corient Private Wealth LLC’s holdings in Coinbase Global were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. CV Advisors LLC grew its position in shares of Coinbase Global by 69.5% in the 4th quarter. CV Advisors LLC now owns 7,093 shares of the cryptocurrency exchange’s stock worth $1,761,000 after buying an additional 2,909 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Coinbase Global by 10.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange’s stock valued at $610,000 after acquiring an additional 232 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in Coinbase Global in the fourth quarter valued at $4,743,000. United Capital Management of KS Inc. increased its position in Coinbase Global by 7.8% during the 4th quarter. United Capital Management of KS Inc. now owns 11,849 shares of the cryptocurrency exchange’s stock valued at $2,942,000 after purchasing an additional 853 shares during the period. Finally, Atala Financial Inc bought a new position in Coinbase Global in the 4th quarter worth $27,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $189.86 on Monday. The business has a 50-day simple moving average of $247.26 and a two-hundred day simple moving average of $241.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market cap of $48.20 billion, a price-to-earnings ratio of 19.99 and a beta of 3.66. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of several research analyst reports. Barclays boosted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler increased their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Bank of America reduced their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.72.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,126,037.53. This represents a 33.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,034 shares of company stock valued at $57,835,408 in the last ninety days. 23.43% of the stock is currently owned by company insiders.

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.