Ritholtz Wealth Management Acquires Shares of 1,488 Coinbase Global, Inc. (NASDAQ:COIN)

Ritholtz Wealth Management acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,488 shares of the cryptocurrency exchange’s stock, valued at approximately $369,000.

A number of other large investors have also added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the 3rd quarter valued at approximately $32,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after purchasing an additional 181 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Coinbase Global by 106.9% in the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock worth $74,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Piper Sandler increased their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Monness Crespi & Hardt lifted their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $282.83.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at $15,739,260.88. The trade was a 11.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 347,033 shares of company stock valued at $102,613,277 over the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $294.19 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $290.14 and a 200-day simple moving average of $232.30. The company has a market capitalization of $73.65 billion, a PE ratio of 50.20 and a beta of 3.59. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 4.69 earnings per share for the current fiscal year.

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.