Mpwm Advisory Solutions LLC Invests $35,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Mpwm Advisory Solutions LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 140 shares of the cryptocurrency exchange’s stock, valued at approximately $35,000.

A number of other hedge funds have also recently made changes to their positions in COIN. Principal Financial Group Inc. lifted its holdings in shares of Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after acquiring an additional 36,843 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Coinbase Global by 21.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,364 shares of the cryptocurrency exchange’s stock worth $1,084,000 after acquiring an additional 783 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Coinbase Global by 73.4% during the 4th quarter. Park Avenue Securities LLC now owns 3,317 shares of the cryptocurrency exchange’s stock valued at $824,000 after buying an additional 1,404 shares during the last quarter. Ritholtz Wealth Management bought a new stake in Coinbase Global during the 4th quarter valued at $369,000. Finally, Wealthcare Advisory Partners LLC raised its holdings in Coinbase Global by 8.1% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,794 shares of the cryptocurrency exchange’s stock valued at $445,000 after buying an additional 135 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 1,952 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total transaction of $488,000.00. Following the sale, the insider now directly owns 81,773 shares in the company, valued at $20,443,250. This trade represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,764 shares of company stock valued at $35,671,592 in the last three months. 17.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COIN. Oppenheimer set a $293.00 price target on shares of Coinbase Global in a report on Thursday, May 15th. Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price target for the company in a report on Monday, May 12th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Benchmark upped their price target on shares of Coinbase Global from $252.00 to $301.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Mizuho lowered their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.40.

Coinbase Global Stock Down 1.0%

NASDAQ:COIN opened at $261.38 on Wednesday. The firm’s 50-day moving average price is $194.78 and its 200-day moving average price is $245.43. The company has a market capitalization of $66.36 billion, a PE ratio of 27.51 and a beta of 3.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $2.53 earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS 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.