IronOak Wealth LLC. Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

IronOak Wealth LLC. purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,082 shares of the cryptocurrency exchange’s stock, valued at approximately $765,000.

Other large investors also recently made changes to their positions in the company. Savant Capital LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $591,000. Robeco Institutional Asset Management B.V. increased its position in shares of Coinbase Global by 33.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange’s stock valued at $25,729,000 after buying an additional 25,972 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of Coinbase Global by 198.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange’s stock valued at $3,380,000 after buying an additional 9,045 shares in the last quarter. KCM Investment Advisors LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at $507,000. Finally, Western Financial Corp CA bought a new stake in shares of Coinbase Global in the 4th quarter valued at $459,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 1.2%

Coinbase Global stock opened at $266.40 on Wednesday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. 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 stock has a market capitalization of $67.63 billion, a P/E ratio of 28.04 and a beta of 3.62. The stock has a 50-day simple moving average of $202.58 and a 200 day simple moving average of $246.56.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 business 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. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. Analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 1,952 shares of the firm’s 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 completion of the sale, the insider now directly owns 81,773 shares in the company, valued at $20,443,250. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,718,628.66. This trade represents a 59.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,786 shares of company stock worth $33,345,024. Company insiders own 17.65% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, May 13th. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. The Goldman Sachs Group lifted their price target on Coinbase Global from $189.00 to $209.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.10.

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.