Wilkinson Global Asset Management LLC Buys 23,443 Shares of Coinbase Global, Inc. $COIN

Wilkinson Global Asset Management LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 89.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,609 shares of the cryptocurrency exchange’s stock after acquiring an additional 23,443 shares during the quarter. Coinbase Global comprises approximately 1.1% of Wilkinson Global Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Wilkinson Global Asset Management LLC’s holdings in Coinbase Global were worth $16,743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC raised its holdings in Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 413 shares during the period. Empowered Funds LLC grew its position in Coinbase Global by 25.8% in the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after purchasing an additional 1,761 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after acquiring an additional 467 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Coinbase Global in the second quarter valued at approximately $285,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Coinbase Global in the second quarter valued at $227,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

NASDAQ COIN opened at $194.74 on Monday. The company has a market capitalization of $52.51 billion, a price-to-earnings ratio of 16.85 and a beta of 3.70. The stock has a fifty day simple moving average of $244.95 and a 200 day simple moving average of $299.93. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on COIN shares. Rosenblatt Securities lifted their price target on Coinbase Global from $450.00 to $470.00 in a report on Friday, October 31st. Citigroup reiterated a “market outperform” rating on shares of Coinbase Global in a research report on Thursday, December 18th. Piper Sandler lowered their target price on shares of Coinbase Global from $350.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. President Capital raised their price target on Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, China Renaissance decreased their price objective on shares of Coinbase Global from $479.30 to $301.50 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $356.27.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 100,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total value of $31,088,000.00. Following the transaction, the chief operating officer directly owned 187,802 shares in the company, valued at $58,383,885.76. This trade represents a 34.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $309.92, for a total transaction of $85,870,774.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 795,587 shares of company stock valued at $232,280,330 over the last ninety days. 16.56% of the stock is owned by company insiders.

Coinbase Global Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.