Whitaker Myers Wealth Managers LTD. Makes New $254,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Whitaker Myers Wealth Managers LTD. bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,022 shares of the cryptocurrency exchange's stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at about $32,000. Abich Financial Wealth Management LLC lifted its stake in shares of Coinbase Global by 548.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange's stock valued at $48,000 after purchasing an additional 181 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock valued at $45,000 after purchasing an additional 204 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Coinbase Global by 106.9% in the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock valued at $74,000 after purchasing an additional 154 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COIN has been the topic of a number of recent analyst reports. JMP Securities reissued a "market outperform" rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Mizuho upped their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt upped their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Hold" and a consensus target price of $282.83.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the company'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 in the company, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares in the company, valued at approximately $35,598,033.30. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 347,033 shares of company stock worth $102,613,277. Insiders own 23.43% of the company's stock.

Coinbase Global Stock Performance

Shares of COIN stock traded up $13.85 during trading on Friday, hitting $295.48. The company's stock had a trading volume of 11,250,894 shares, compared to its average volume of 6,726,179. The company has a market cap of $73.97 billion, a PE 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. The business has a fifty day moving average of $291.21 and a 200-day moving average of $231.31. 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 (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business's revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. As a group, research analysts anticipate that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

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.