WealthTrak Capital Management LLC Invests $75,000 in Coinbase Global, Inc. (NASDAQ:COIN)

WealthTrak Capital Management LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 303 shares of the cryptocurrency exchange’s stock, valued at approximately $75,000.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Coinbase Global by 11.0% in the third quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock worth $2,513,000 after buying an additional 1,393 shares during the period. Brown Brothers Harriman & Co. increased its holdings in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Coinbase Global by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after acquiring an additional 186 shares during the period. D.A. Davidson & CO. lifted its holdings in Coinbase Global by 1.6% during the third quarter. D.A. Davidson & CO. now owns 5,894 shares of the cryptocurrency exchange’s stock valued at $1,050,000 after purchasing an additional 90 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in shares of Coinbase Global by 97.1% in the third quarter. Townsquare Capital LLC now owns 4,738 shares of the cryptocurrency exchange’s stock worth $844,000 after purchasing an additional 2,334 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 7.8 %

Shares of NASDAQ COIN opened at $173.93 on Friday. The stock has a market capitalization of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $239.36 and its 200-day moving average price is $241.64.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on COIN shares. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research note on Tuesday, February 18th. Bank of America lowered their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. HC Wainwright reissued a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $2,936,968.98. The trade was a 68.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the transaction, the insider now directly owns 69,407 shares in the company, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock worth $61,331,908 over the last quarter. 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.