Westerkirk Capital Inc. Makes New Investment in Coinbase Global, Inc. $COIN

Westerkirk Capital Inc. purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,370 shares of the cryptocurrency exchange’s stock, valued at approximately $1,181,000.

Several other hedge funds and other institutional investors also recently modified their holdings of COIN. Cadent Capital Advisors LLC raised its stake in Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after purchasing an additional 30 shares in the last quarter. Ameriflex Group Inc. increased its holdings in shares of Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after buying an additional 30 shares during the last quarter. Pettinga Financial Advisors LLC raised its position in shares of Coinbase Global by 2.6% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after buying an additional 34 shares in the last quarter. Evelyn Partners Investment Management Europe Ltd raised its position in shares of Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after buying an additional 36 shares in the last quarter. Finally, Hemington Wealth Management lifted its holdings in shares of Coinbase Global by 12.1% during the 2nd quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock worth $123,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on COIN. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, October 31st. Compass Point cut their price objective on Coinbase Global from $277.00 to $266.00 in a report on Friday, October 31st. Mizuho increased their price objective on Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Benchmark reissued a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $397.63.

Coinbase Global Trading Up 1.3%

NASDAQ COIN opened at $263.26 on Wednesday. The firm has a market cap of $70.99 billion, a PE ratio of 22.77 and a beta of 3.69. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The stock has a 50-day moving average of $317.53 and a 200-day moving average of $318.50. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 2,750 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $260.33, for a total value of $715,907.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 1,787 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $244.49, for a total transaction of $436,903.63. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 753,971 shares of company stock worth $233,049,063 over the last ninety days. 16.56% of the stock is owned by company insiders.

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.