Vanguard Capital Wealth Advisors Buys Shares of 1,760 Coinbase Global, Inc. (NASDAQ:COIN)

Vanguard Capital Wealth Advisors acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel reports. The firm acquired 1,760 shares of the cryptocurrency exchange’s stock, valued at approximately $437,000.

A number of other institutional investors also recently bought and sold shares of COIN. Vanguard Group Inc. raised its holdings in Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after purchasing an additional 128,802 shares during the last quarter. Geode Capital Management LLC raised its holdings in Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after acquiring an additional 127,075 shares in the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global during the fourth quarter worth $536,484,000. Groupama Asset Managment acquired a new position in Coinbase Global during the 4th quarter valued at approximately $372,450,000. Finally, Northern Trust Corp raised its holdings in shares of Coinbase Global by 20.3% during the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock valued at $321,488,000 after buying an additional 218,400 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. The trade was a 11.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of Coinbase Global stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total value of $4,049,626.66. Following the sale, the director now owns 10,417 shares in the company, valued at $2,718,628.66. This trade represents a 59.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,764 shares of company stock worth $35,671,592 over the last three months. Insiders own 17.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on COIN shares. JMP Securities reissued a “market outperform” rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Thursday, May 8th. Oppenheimer set a $293.00 price target on Coinbase Global in a research note on Thursday. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Tuesday, May 13th. Piper Sandler boosted their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Finally, Barclays lifted their price objective on Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.40.

Coinbase Global Trading Down 0.9%

COIN opened at $263.99 on Tuesday. The firm has a market cap of $67.02 billion, a P/E ratio of 27.79 and a beta of 3.62. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The stock has a 50-day moving average of $193.10 and a 200 day moving average of $245.31. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the firm earned $2.53 earnings per share. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.