Fortis Group Advisors LLC Buys Shares of 8,372 Coinbase Global, Inc. (NASDAQ:COIN)

Fortis Group Advisors LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,372 shares of the cryptocurrency exchange’s stock, valued at approximately $2,079,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SOA Wealth Advisors LLC. boosted its holdings in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after acquiring an additional 40 shares in the last quarter. Empowered Funds LLC boosted its stake in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after purchasing an additional 43 shares in the last quarter. Yousif Capital Management LLC grew its position in Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC increased its stake in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lawrence J. Brock sold 15,858 shares of Coinbase Global stock in a transaction on Monday, November 25th. The stock was sold at an average price of $298.98, for a total value of $4,741,224.84. Following the sale, the insider now owns 21,019 shares of the company’s stock, valued at approximately $6,284,260.62. This trade represents a 43.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,529 shares of company stock worth $95,595,712 over the last quarter. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 8.0 %

NASDAQ COIN opened at $274.31 on Tuesday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $280.25 and a 200-day moving average price of $238.79. The company has a market capitalization of $68.67 billion, a P/E ratio of 46.81 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. As a group, equities analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on COIN. Oppenheimer reduced their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. The Goldman Sachs Group lowered their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Finally, Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.17.

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.