CW Advisors LLC Grows Stock Holdings in Coinbase Global, Inc. $COIN

CW Advisors LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 302.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,578 shares of the cryptocurrency exchange’s stock after buying an additional 10,960 shares during the period. CW Advisors LLC’s holdings in Coinbase Global were worth $5,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Coinbase Global by 25.5% during the second quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after purchasing an additional 4,914,407 shares in the last quarter. Geode Capital Management LLC grew its stake in Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock worth $1,940,805,000 after buying an additional 1,755,146 shares during the last quarter. Groupama Asset Managment increased its position in Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Norges Bank acquired a new position in Coinbase Global during the 2nd quarter valued at about $1,044,354,000. Finally, Amundi raised its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several recent analyst reports. HC Wainwright upgraded shares of Coinbase Global from a “sell” rating to a “buy” rating and upped their price objective for the company from $300.00 to $425.00 in a report on Thursday, October 30th. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $314.00 to $294.00 and set a “neutral” rating for the company in a report on Friday. Barclays lowered their price objective on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Wall Street Zen downgraded Coinbase Global from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Bank of America reduced their target price on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $396.94.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the sale, the chief operating officer directly owned 187,802 shares in the company, valued at $58,383,885.76. The trade was a 34.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 728,971 shares of company stock worth $225,494,313. 16.56% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

NASDAQ:COIN opened at $269.73 on Friday. The firm’s fifty day moving average is $315.13 and its two-hundred day moving average is $317.94. The firm has a market cap of $72.73 billion, a price-to-earnings ratio of 23.33 and a beta of 3.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company’s revenue was up 55.1% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. Research analysts expect that Coinbase Global, Inc. will post 7.22 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.