Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 15.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 928 shares of the cryptocurrency exchange’s stock after purchasing an additional 123 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Coinbase Global were worth $161,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Barrett & Company Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $26,000. AlphaMark Advisors LLC acquired a new position in Coinbase Global during the fourth quarter valued at approximately $33,000. Signature Resources Capital Management LLC purchased a new stake in Coinbase Global during the fourth quarter worth approximately $39,000. Harbor Investment Advisory LLC raised its stake in shares of Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock valued at $43,000 after acquiring an additional 100 shares during the period. Finally, Coston McIsaac & Partners acquired a new position in shares of Coinbase Global during the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

COIN traded up $18.79 during trading hours on Friday, hitting $237.65. 10,249,246 shares of the stock were exchanged, compared to its average volume of 8,954,198. The stock has a market cap of $58.36 billion, a price-to-earnings ratio of 47.44 and a beta of 3.46. The stock has a 50-day simple moving average of $232.51 and a 200-day simple moving average of $180.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COIN. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Canaccord Genuity Group upped their price target on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Wedbush upped their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $214.67.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the transaction, the chief financial officer now owns 219,490 shares in the company, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at approximately $943,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 487,019 shares of company stock worth $108,548,420. 33.16% of the stock is currently owned by company insiders.

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.