Premier Path Wealth Partners LLC Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Premier Path Wealth Partners LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,284 shares of the cryptocurrency exchange's stock, valued at approximately $319,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock valued at $609,789,000 after acquiring 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 third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange's stock worth $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the third quarter valued at approximately $409,919,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange's stock valued at $163,752,000 after purchasing an additional 52,856 shares in the last quarter. Finally, Ribbit Management Company LLC increased its stake in Coinbase Global by 4.7% during the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange's stock worth $70,217,000 after buying an additional 17,650 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares of the company's stock, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company's stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 347,033 shares of company stock worth $102,613,277 in the last 90 days. Company insiders own 23.43% of the company's stock.

Analysts Set New Price Targets

COIN has been the subject of several recent research reports. JMP Securities reissued a "market outperform" rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Mizuho lifted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an "underperform" rating in a report on Thursday, October 31st. Needham & Company LLC upped their price target on Coinbase Global from $375.00 to $420.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Coinbase Global currently has a consensus rating of "Hold" and an average target price of $282.83.

Coinbase Global Stock Performance

Shares of NASDAQ COIN traded up $13.85 during trading hours on Friday, reaching $295.48. The stock had a trading volume of 11,250,894 shares, compared to its average volume of 6,726,179. The firm has a 50-day moving average of $291.21 and a 200-day moving average of $231.26. The firm has a market cap of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global's revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. Equities research analysts predict that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

About Coinbase Global

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.