220,980 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Trivest Advisors Ltd

Trivest Advisors Ltd purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, HoldingsChannel reports. The firm purchased 220,980 shares of the cryptocurrency exchange’s stock, valued at approximately $54,869,000. Coinbase Global accounts for about 2.5% of Trivest Advisors Ltd’s holdings, making the stock its 14th biggest holding.

Other hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in shares of Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted 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 valued at $34,000 after purchasing an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter valued at $25,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global during the 4th quarter worth about $50,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $2,846,236.91. This trade represents a 52.30 % 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 10,978 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock worth $60,955,968 over the last three months. Insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COIN. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a report on Tuesday, February 18th. JMP Securities boosted their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. HC Wainwright reaffirmed a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, Mizuho dropped their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $322.78.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $181.14 on Wednesday. The stock has a market capitalization of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66. The business has a 50 day simple moving average of $251.44 and a two-hundred day simple moving average of $241.13. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 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.