SVB Wealth LLC Has $3.06 Million Stock Holdings in Coinbase Global, Inc. $COIN

SVB Wealth LLC lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 53.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,529 shares of the cryptocurrency exchange’s stock after purchasing an additional 6,075 shares during the period. SVB Wealth LLC’s holdings in Coinbase Global were worth $3,061,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. West Family Investments Inc. boosted its holdings in shares of Coinbase Global by 3.3% during the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock worth $347,000 after buying an additional 33 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of Coinbase Global by 32.2% in the 3rd quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange’s stock valued at $51,000 after acquiring an additional 37 shares in the last quarter. Formidable Asset Management LLC lifted its position in shares of Coinbase Global by 2.2% during the 4th quarter. Formidable Asset Management LLC now owns 2,074 shares of the cryptocurrency exchange’s stock valued at $469,000 after acquiring an additional 44 shares during the period. L2 Asset Management LLC lifted its position in shares of Coinbase Global by 5.0% during the 3rd quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock valued at $326,000 after acquiring an additional 46 shares during the period. Finally, Ancora Advisors LLC lifted its position in shares of Coinbase Global by 4.5% during the 3rd quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock valued at $396,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. China Renaissance reduced their price target on shares of Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a report on Monday, February 23rd. Jefferies Financial Group upped their price objective on shares of Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a report on Thursday, April 9th. Sanford C. Bernstein cut their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. KeyCorp restated a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Finally, HC Wainwright decreased their target price on Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Eighteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $250.65.

Insider Buying and Selling

In related news, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $181.54, for a total value of $1,815,400.00. Following the transaction, the director owned 30,000 shares of the company’s stock, valued at approximately $5,446,200. This trade represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,647 shares of company stock worth $5,740,941 over the last ninety days. Insiders own 16.66% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $164.84 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $184.20 and a two-hundred day simple moving average of $199.80. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The firm has a market capitalization of $43.43 billion, a PE ratio of 61.97, a price-to-earnings-growth ratio of 5.76 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm’s quarterly revenue was down 30.5% on a year-over-year basis. During the same period last year, the business posted $0.24 earnings per share. Analysts forecast that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Coinbase Global 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.