MGB Wealth Management LLC Makes New $740,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

MGB Wealth Management LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, Holdings Channel.com reports. The fund acquired 2,972 shares of the cryptocurrency exchange’s stock, valued at approximately $740,000.

A number of other institutional investors and hedge funds also recently modified their holdings of COIN. SOA Wealth Advisors LLC. raised its position in shares of Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares during the period. Empowered Funds LLC increased its stake in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after purchasing an additional 43 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares during the period. Capital Advisors Wealth Management LLC lifted its stake in Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. This represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 386,798 shares of company stock worth $114,707,944 in the last 90 days. 23.43% of the stock is owned by insiders.

Coinbase Global Price Performance

Shares of COIN opened at $274.90 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $68.82 billion, a PE ratio of 46.91 and a beta of 3.61. The firm’s 50 day moving average price is $282.81 and its 200 day moving average price is $237.46. Coinbase Global, Inc. has a twelve month low of $137.13 and a twelve month high of $349.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC cut their price target on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. HC Wainwright raised their target price on Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $286.00.

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.