Atria Wealth Solutions Inc. Increases Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Atria Wealth Solutions Inc. lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 65.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,339 shares of the cryptocurrency exchange’s stock after buying an additional 5,266 shares during the period. Atria Wealth Solutions Inc.’s holdings in Coinbase Global were worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Fortis Group Advisors LLC bought a new stake in Coinbase Global during the fourth quarter valued at about $2,079,000. D.A. Davidson & CO. lifted its position in shares of Coinbase Global by 39.4% during the 4th quarter. D.A. Davidson & CO. now owns 8,218 shares of the cryptocurrency exchange’s stock valued at $2,041,000 after buying an additional 2,324 shares in the last quarter. Truist Financial Corp grew its stake in shares of Coinbase Global by 18.8% during the 4th quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange’s stock valued at $1,633,000 after acquiring an additional 1,040 shares during the period. CIBC Asset Management Inc increased its holdings in Coinbase Global by 14.6% in the 4th quarter. CIBC Asset Management Inc now owns 7,980 shares of the cryptocurrency exchange’s stock worth $1,981,000 after acquiring an additional 1,018 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Coinbase Global by 0.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 71,245 shares of the cryptocurrency exchange’s stock worth $17,690,000 after acquiring an additional 556 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 26,649 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,209,894.38. This represents a 71.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 334,306 shares of company stock worth $97,300,651 over the last three months. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $256.59 on Friday. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm has a market capitalization of $64.24 billion, a PE ratio of 27.01 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business has a 50 day simple moving average of $277.26 and a 200-day simple moving average of $239.47.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts anticipate that Coinbase Global, Inc. will post 6.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COIN shares. Barclays lifted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. JMP Securities upped their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho dropped their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Oppenheimer reduced their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $303.39.

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.