Fortis Group Advisors LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Fortis Group Advisors LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,372 shares of the cryptocurrency exchange’s stock, valued at approximately $2,079,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB grew its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. Brown Brothers Harriman & Co. grew its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Finally, Bogart Wealth LLC increased its holdings in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $274.31 on Tuesday. The stock has a fifty day simple moving average of $280.25 and a 200-day simple moving average of $238.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Equities analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $144,786.76. The trade was a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,529 shares of company stock worth $95,595,712 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of several recent analyst reports. HC Wainwright lifted their price target on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Barclays increased their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday. Keefe, Bruyette & Woods reduced their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.17.

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.