JFG Wealth Management LLC Buys Shares of 1,300 Coinbase Global, Inc. (NASDAQ:COIN)

JFG Wealth Management LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,300 shares of the cryptocurrency exchange’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. Fountainhead AM LLC grew its stake in Coinbase Global by 2.1% in the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after acquiring an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after purchasing an additional 81 shares during the period. Arkadios Wealth Advisors raised its position in Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Coinbase Global by 2.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock worth $669,000 after buying an additional 90 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Coinbase Global by 34.5% in the fourth quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock worth $61,000 after acquiring an additional 90 shares during the period. 68.84% of the stock is owned by institutional investors.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now owns 66,122 shares in the company, valued at $14,644,039.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at $14,644,039.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $232.37, for a total transaction of $3,806,220.60. Following the transaction, the director now directly owns 4,662 shares in the company, valued at $1,083,308.94. The disclosure for this sale can be found here. Insiders have sold 419,797 shares of company stock worth $85,822,565 in the last ninety days. Company insiders own 33.16% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of analyst reports. Needham & Company LLC upped their target price on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, January 8th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Sanford C. Bernstein raised their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. upped their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $167.81.

Coinbase Global Stock Performance

Coinbase Global stock traded up $12.74 during mid-day trading on Thursday, hitting $222.83. The company had a trading volume of 3,918,667 shares, compared to its average volume of 13,219,252. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $53.99 billion, a price-to-earnings ratio of 825.30 and a beta of 3.46. The company’s fifty day moving average is $233.11 and its 200-day moving average is $163.99. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same period in the prior year, the firm posted ($2.46) earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities research analysts predict that Coinbase Global, Inc. will post 2.6 EPS 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.