White Knight Strategic Wealth Advisors LLC Invests $326,000 in Coinbase Global, Inc. (NASDAQ:COIN)

White Knight Strategic Wealth Advisors LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,314 shares of the cryptocurrency exchange’s stock, valued at approximately $326,000.

A number of other large investors also recently modified their holdings of the business. Mpwm Advisory Solutions LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $35,000. Vanguard Capital Wealth Advisors bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $437,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Coinbase Global by 29.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange’s stock valued at $243,118,000 after purchasing an additional 222,789 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $24,815,000. Finally, Vident Advisory LLC raised its holdings in shares of Coinbase Global by 17.7% in the 4th quarter. Vident Advisory LLC now owns 36,406 shares of the cryptocurrency exchange’s stock valued at $9,040,000 after purchasing an additional 5,473 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 target price on the stock. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a report on Thursday, May 15th. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a report on Friday, May 9th. Needham & Company LLC dropped their target price on shares of Coinbase Global from $330.00 to $270.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Finally, Bank of America lowered their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $266.40.

Coinbase Global Stock Down 1.0%

Shares of COIN opened at $261.38 on Wednesday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The firm’s 50 day moving average is $194.78 and its 200-day moving average is $245.43. The stock has a market capitalization of $66.36 billion, a PE ratio of 27.51 and a beta of 3.62. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business posted $2.53 earnings per share. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $88,646.78. This trade represents a 96.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,764 shares of company stock valued at $35,671,592. 17.65% of the stock is currently owned by company insiders.

Coinbase Global 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.