Bernard Wealth Management Corp. Invests $56,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Bernard Wealth Management Corp. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 225 shares of the cryptocurrency exchange’s stock, valued at approximately $56,000.

Other hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc purchased a new stake in Coinbase Global during the fourth quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Coinbase Global during the fourth quarter valued at $35,000. Ameriflex Group Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at $37,000. Finally, Studio Investment Management LLC purchased a new stake in Coinbase Global during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the sale, the insider now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of Coinbase Global stock in a transaction 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 in the company, valued at $2,718,628.66. This represents a 59.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,786 shares of company stock valued at $33,345,024. 17.65% of the stock is owned by company insiders.

Analyst Ratings Changes

COIN has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. 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 research note on Tuesday, March 11th. Finally, Oppenheimer set a $293.00 price objective on shares of Coinbase Global in a research report on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.40.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $263.16 on Tuesday. The stock has a market capitalization of $66.81 billion, a price-to-earnings ratio of 27.70 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 firm’s 50 day simple moving average is $201.06 and its 200-day simple moving average is $246.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

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). The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 EPS. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

About Coinbase Global

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.