1,488 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,488 shares of the cryptocurrency exchange's stock, valued at approximately $369,000.

Other large investors also recently bought and sold shares of the company. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $409,919,000. Geode Capital Management LLC lifted its holdings in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Azora Capital LP grew its position in shares of Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange's stock valued at $57,525,000 after purchasing an additional 220,078 shares during the last quarter. Holocene Advisors LP acquired a new stake in Coinbase Global during the 3rd quarter valued at $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global in the 3rd quarter valued at about $29,756,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,837 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares of the company's stock, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the sale, the insider now directly owns 74,956 shares of the company's stock, valued at approximately $15,739,260.88. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 377,489 shares of company stock worth $111,724,097 in the last 90 days. 23.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on COIN. HC Wainwright restated a "buy" rating and set a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Monness Crespi & Hardt boosted their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Canaccord Genuity Group restated a "buy" rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group cut their price target on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Coinbase Global has an average rating of "Hold" and a consensus price target of $282.83.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $1.66 during trading on Wednesday, reaching $295.85. The stock had a trading volume of 6,642,633 shares, compared to its average volume of 8,128,426. 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 fifty day simple moving average of $290.14 and a two-hundred day simple moving average of $232.30. The firm has a market capitalization of $74.07 billion, a price-to-earnings ratio of 50.49 and a beta of 3.59. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm's revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal 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.