Visionary Wealth Advisors Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Visionary Wealth Advisors lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,403 shares of the cryptocurrency exchange’s stock after purchasing an additional 67 shares during the period. Visionary Wealth Advisors’ holdings in Coinbase Global were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of COIN. Vivaldi Capital Management LP grew its stake in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after acquiring an additional 47 shares during the period. Twinbeech Capital LP purchased a new stake in Coinbase Global in the 4th quarter worth approximately $339,000. Two Sigma Advisers LP grew its stake in Coinbase Global by 445.4% in the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock worth $101,431,000 after acquiring an additional 333,600 shares during the period. Teza Capital Management LLC grew its stake in Coinbase Global by 47.0% in the 4th quarter. Teza Capital Management LLC now owns 2,291 shares of the cryptocurrency exchange’s stock worth $569,000 after acquiring an additional 733 shares during the period. Finally, Strategic Wealth Partners Ltd. grew its stake in Coinbase Global by 19.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,045 shares of the cryptocurrency exchange’s stock worth $508,000 after acquiring an additional 336 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a research note on Thursday, May 15th. Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price target on the stock in a report on Monday, May 12th. JMP Securities reiterated a “market outperform” rating and issued a $400.00 price target on shares of Coinbase Global in a report on Thursday, May 8th. Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a report on Friday, May 9th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $266.40.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 15,517 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $260.98, for a total value of $4,049,626.66. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,718,628.66. The trade was a 59.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $104,226.90. The trade was a 95.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,764 shares of company stock worth $35,671,592 in the last quarter. 17.65% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $258.99 on Thursday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $65.75 billion, a P/E ratio of 27.26 and a beta of 3.62. The company’s fifty day moving average price is $196.29 and its two-hundred day moving average price is $245.52.

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

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.