AlTi Global Inc. Buys 12,088 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

AlTi Global Inc. lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 203.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,043 shares of the cryptocurrency exchange’s stock after purchasing an additional 12,088 shares during the period. AlTi Global Inc.’s holdings in Coinbase Global were worth $4,480,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SOA Wealth Advisors LLC. raised its position in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 40 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares during the period. Yousif Capital Management LLC increased its stake in shares of Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in shares of Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares during the last quarter. Finally, IPG Investment Advisors LLC boosted its position in shares of Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $142,540.74. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $16,505,971.56. This trade represents a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,970 shares of company stock worth $38,672,615 in the last three months. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Up 1.8 %

COIN opened at $204.93 on Friday. The stock has a market cap of $52.03 billion, a price-to-earnings ratio of 21.57 and a beta of 3.65. 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’s fifty day moving average is $188.51 and its 200 day moving average is $243.17. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

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 return on equity of 20.64% and a net margin of 39.34%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COIN. Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Bank of America cut their target price 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. Citigroup lowered their price target on Coinbase Global from $350.00 to $270.00 and set a “buy” rating on the stock in a report on Friday. Finally, Mizuho dropped their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $284.24.

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.