Oxford Wealth Group LLC Invests $408,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Oxford Wealth Group LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,645 shares of the cryptocurrency exchange’s stock, valued at approximately $408,000.

A number of other hedge funds have also recently modified their holdings of COIN. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global during the fourth quarter worth approximately $50,000. Finally, Bogart Wealth LLC lifted its stake in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Coinbase Global stock opened at $190.00 on Wednesday. The company has a market cap of $48.24 billion, a P/E ratio of 20.00 and a beta of 3.65. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The business has a fifty day moving average of $196.01 and a two-hundred day moving average of $242.14. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Barclays lowered their price objective on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Rosenblatt Securities dropped their price target on Coinbase Global from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $297.95.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company’s stock, 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. In the last three months, insiders sold 141,611 shares of company stock worth $34,376,005. Company insiders own 23.43% of the company’s stock.

Coinbase Global 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.