Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 47.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,069 shares of the cryptocurrency exchange’s stock after buying an additional 344 shares during the quarter. Westpac Banking Corp’s holdings in Coinbase Global were worth $265,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the fourth quarter worth approximately $50,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on COIN shares. The Goldman Sachs Group initiated coverage on Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective for the company. Bank of America cut their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Canaccord Genuity Group increased their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.72.

Coinbase Global Price Performance

COIN stock opened at $160.55 on Friday. The company has a market capitalization of $40.76 billion, a PE ratio of 16.90 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $226.99 and its two-hundred day moving average is $242.05. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,226.90. This trade represents a 95.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the sale, the director now owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 190,609 shares of company stock valued at $52,238,258. Insiders own 23.43% of the company’s stock.

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.