Wingate Wealth Advisors Inc. Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 108 shares of the cryptocurrency exchange’s stock, valued at approximately $27,000.

Other hedge funds have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the third quarter valued at $25,000. ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Coinbase Global in the third quarter worth approximately $55,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of COIN opened at $266.90 on Wednesday. The business’s fifty day moving average is $283.93 and its 200 day moving average is $237.20. Coinbase Global, Inc. has a 12-month low of $137.13 and a 12-month high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $66.82 billion, a P/E ratio of 45.55 and a beta of 3.61.

Insiders Place Their Bets

In related news, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were 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 approximately $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,798 shares of company stock worth $107,826,444. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of a number of recent analyst reports. Piper Sandler increased their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Oppenheimer decreased their price objective 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. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America upped their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $284.06.

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.