Surience Private Wealth LLC Acquires New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Surience Private Wealth LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,410 shares of the cryptocurrency exchange’s stock, valued at approximately $847,000. Coinbase Global comprises approximately 1.1% of Surience Private Wealth LLC’s investment portfolio, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the third quarter worth approximately $32,000. Abich Financial Wealth Management LLC grew its stake in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after buying an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in Coinbase Global by 233.7% in the 2nd quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock worth $66,000 after buying an additional 208 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 7.6 %

Shares of COIN opened at $274.89 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 company has a 50-day simple moving average of $289.78 and a 200-day simple moving average of $230.14. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The firm has a market capitalization of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned ($0.01) EPS. The company’s revenue was up 78.8% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the sale, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. The trade was a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,333 shares of company stock valued at $95,092,118 over the last ninety days. 23.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COIN. Keefe, Bruyette & Woods decreased their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, Needham & Company LLC upped their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $284.17.

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.