Wealthcare Advisory Partners LLC Acquires 1,561 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Wealthcare Advisory Partners LLC grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 87.0% in the first quarter, HoldingsChannel reports. The fund owned 3,355 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,561 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Coinbase Global were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new stake in Coinbase Global during the fourth quarter valued at about $25,000. Copia Wealth Management bought a new stake in Coinbase Global during the fourth quarter valued at about $26,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $35,000. Finally, Ameriflex Group Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth about $37,000. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This trade represents a 6.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $255.34, for a total value of $6,383,500.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $134,308.84. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,717 shares of company stock worth $49,363,601. 17.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COIN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Monday, May 12th. The Goldman Sachs Group upped their price target on Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Mizuho dropped their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a research report on Friday, May 9th. Finally, Oppenheimer set a $293.00 price objective on shares of Coinbase Global in a report on Thursday, May 15th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.10.

Coinbase Global Stock Up 0.7%

Shares of NASDAQ:COIN opened at $242.71 on Friday. The company has a market cap of $61.62 billion, a price-to-earnings ratio of 25.55 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a 50-day moving average price of $221.16 and a 200 day moving average price of $241.85. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.