Wilkinson Global Asset Management LLC Acquires 23,443 Shares of Coinbase Global, Inc. $COIN

Wilkinson Global Asset Management LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 89.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,609 shares of the cryptocurrency exchange’s stock after buying an additional 23,443 shares during the quarter. Coinbase Global makes up approximately 1.1% of Wilkinson Global Asset Management LLC’s portfolio, making the stock its 25th largest holding. Wilkinson Global Asset Management LLC’s holdings in Coinbase Global were worth $16,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of COIN. Evelyn Partners Investment Management Europe Ltd grew its stake in shares of Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after acquiring an additional 36 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the second quarter valued at approximately $30,000. Salomon & Ludwin LLC boosted its holdings in Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 88 shares during the period. City State Bank purchased a new stake in shares of Coinbase Global in the second quarter worth $33,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at about $34,000. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 1,375 shares of Coinbase Global stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $250.27, for a total value of $344,121.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 8,050 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $250.00, for a total transaction of $2,012,500.00. Following the sale, the chief financial officer directly owned 70,664 shares in the company, valued at approximately $17,666,000. The trade was a 10.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 795,587 shares of company stock valued at $232,280,330 over the last ninety days. Insiders own 16.56% of the company’s stock.

Coinbase Global Trading Down 2.2%

NASDAQ COIN opened at $194.74 on Monday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The stock’s fifty day moving average price is $244.95 and its 200-day moving average price is $299.93. The stock has a market cap of $52.51 billion, a P/E ratio of 16.85 and a beta of 3.70. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on COIN. Deutsche Bank Aktiengesellschaft started coverage on shares of Coinbase Global in a report on Wednesday, December 17th. They issued a “buy” rating and a $340.00 price target on the stock. Rothschild & Co Redburn dropped their target price on Coinbase Global from $404.00 to $403.00 and set a “buy” rating for the company in a report on Friday, January 16th. Needham & Company LLC dropped their price target on shares of Coinbase Global from $400.00 to $290.00 and set a “buy” rating for the company in a research report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Finally, Cantor Fitzgerald began coverage on shares of Coinbase Global in a report on Tuesday, January 27th. They issued an “overweight” rating and a $277.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $356.27.

Coinbase Global Company Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.