Perigon Wealth Management LLC Buys 283 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Perigon Wealth Management LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,761 shares of the cryptocurrency exchange’s stock after buying an additional 283 shares during the period. Perigon Wealth Management LLC’s holdings in Coinbase Global were worth $1,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sei Investments Co. boosted its position in Coinbase Global by 22.3% during the 2nd quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after acquiring an additional 2,212 shares in the last quarter. AQR Capital Management LLC boosted its position in Coinbase Global by 103.8% during the 2nd quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock valued at $6,829,000 after acquiring an additional 15,652 shares in the last quarter. Mackenzie Financial Corp boosted its position in Coinbase Global by 639.4% during the 2nd quarter. Mackenzie Financial Corp now owns 9,205 shares of the cryptocurrency exchange’s stock valued at $2,046,000 after acquiring an additional 7,960 shares in the last quarter. Creative Planning boosted its position in Coinbase Global by 20.0% during the 2nd quarter. Creative Planning now owns 50,210 shares of the cryptocurrency exchange’s stock valued at $11,158,000 after acquiring an additional 8,383 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Coinbase Global by 3.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,373 shares of the cryptocurrency exchange’s stock valued at $8,528,000 after acquiring an additional 1,137 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the completion of the sale, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. The trade was a 8.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,205 shares of company stock worth $112,487,737. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $291.00 on Thursday. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The firm has a market cap of $72.85 billion, a P/E ratio of 49.66 and a beta of 3.59. The company has a 50 day moving average of $288.15 and a 200 day moving average of $235.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, research analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on COIN shares. Piper Sandler lifted their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $250.00 to $290.00 in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.06.

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.