Mpwm Advisory Solutions LLC Acquires New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 140 shares of the cryptocurrency exchange’s stock, valued at approximately $35,000.

Several other institutional investors also recently bought and sold shares of COIN. Norges Bank purchased a new stake in Coinbase Global during the 4th quarter valued at about $536,484,000. Groupama Asset Managment bought a new position in Coinbase Global during the 4th quarter valued at about $372,450,000. Proficio Capital Partners LLC lifted its stake in Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after acquiring an additional 417,036 shares during the period. Two Sigma Advisers LP lifted its stake in Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock valued at $101,431,000 after acquiring an additional 333,600 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after acquiring an additional 302,595 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

NASDAQ COIN opened at $261.38 on Wednesday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The stock has a market cap of $66.36 billion, a price-to-earnings ratio of 27.51 and a beta of 3.62. The company’s 50 day moving average is $194.78 and its two-hundred day moving average is $245.43. 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 released its earnings results 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 for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business posted $2.53 EPS. Coinbase Global’s revenue was up 24.2% on a year-over-year basis. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 15,517 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,718,628.66. This trade represents a 59.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 1,952 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total transaction of $488,000.00. Following the sale, the insider now directly owns 81,773 shares of the company’s stock, valued at approximately $20,443,250. This trade represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,764 shares of company stock valued at $35,671,592 in the last three months. 17.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COIN shares. Rosenblatt Securities restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, May 12th. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They set an “overweight” rating and a $245.00 target price on the stock. Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 target price on the stock in a research note on Monday, May 12th. HC Wainwright restated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Finally, Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Ten 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 currently has a consensus rating of “Moderate Buy” and an average price target of $266.40.

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.