Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,744 shares of the cryptocurrency exchange’s stock after buying an additional 604 shares during the period. Verdence Capital Advisors LLC’s holdings in Coinbase Global were worth $1,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% during the 4th 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 in the last quarter. Brown Brothers Harriman & Co. grew its stake in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Bogart Wealth LLC grew its stake in Coinbase Global by 252.5% during the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,455 shares of company stock worth $60,955,968. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

COIN opened at $222.45 on Thursday. The company has a market capitalization of $56.48 billion, a price-to-earnings ratio of 23.42 and a beta of 3.61. 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, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The business has a 50 day moving average price of $264.38 and a two-hundred day moving average price of $241.24.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on COIN shares. Mizuho lowered their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. 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. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Finally, JMP Securities raised their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $311.56.

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.