SVB Wealth LLC Takes $894,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

SVB Wealth LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,602 shares of the cryptocurrency exchange’s stock, valued at approximately $894,000.

A number of other large investors also recently bought and sold shares of COIN. Geode Capital Management LLC grew its holdings in Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after buying an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at $409,919,000. Charles Schwab Investment Management Inc. increased its holdings in Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after acquiring an additional 52,856 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after acquiring an additional 417,036 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COIN. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler lifted their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. Canaccord Genuity Group raised their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $311.56.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This represents a 70.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,069 shares of company stock valued at $63,431,584. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $205.75 on Tuesday. The stock has a market cap of $52.24 billion, a PE ratio of 21.66 and a beta of 3.61. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The stock has a fifty day simple moving average of $266.87 and a 200-day simple moving average of $241.32. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.