New Wave Wealth Advisors LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

New Wave Wealth Advisors LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 303 shares of the cryptocurrency exchange’s stock, valued at approximately $75,000.

A number of other institutional investors also recently modified their holdings of COIN. Sei Investments Co. grew its position in Coinbase Global by 22.3% in the second 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 during the last quarter. AQR Capital Management LLC grew its holdings in shares of 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 purchasing an additional 15,652 shares during the last quarter. NewEdge Advisors LLC increased its position in Coinbase Global by 7.3% during the 2nd quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock worth $1,081,000 after purchasing an additional 332 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in Coinbase Global by 84.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 553 shares of the cryptocurrency exchange’s stock valued at $123,000 after purchasing an additional 253 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Coinbase Global by 11.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,085 shares of the cryptocurrency exchange’s stock valued at $1,352,000 after purchasing an additional 635 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other 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 value of $2,186,611.20. Following the transaction, the insider now owns 79,407 shares in the company, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at $4,631,250. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,205 shares of company stock valued at $112,487,737. 23.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America upped their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $250.00 to $290.00 in a report on Wednesday. Keefe, Bruyette & Woods cut their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $289.06.

Coinbase Global Trading Down 3.3 %

COIN opened at $291.33 on Friday. The company has a market cap of $72.93 billion, a P/E ratio of 49.72 and a beta of 3.59. The company has a fifty day moving average price of $288.00 and a two-hundred day moving average price of $236.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. Analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

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.