Wingate Wealth Advisors Inc. Makes New $27,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 108 shares of the cryptocurrency exchange’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Savant Capital LLC bought a new position in Coinbase Global during the fourth quarter worth about $591,000. Focused Wealth Management Inc acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $227,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Coinbase Global by 44.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 631 shares of the cryptocurrency exchange’s stock worth $157,000 after acquiring an additional 195 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Coinbase Global by 35.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 18,552 shares of the cryptocurrency exchange’s stock worth $4,606,000 after acquiring an additional 4,829 shares during the period. Finally, Stephens Inc. AR bought a new stake in Coinbase Global in the 4th quarter valued at $261,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research reports. Needham & Company LLC decreased their price objective 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Oppenheimer reduced their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Finally, B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $284.06.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $266.90 on Wednesday. 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 capitalization of $66.82 billion, a PE ratio of 45.55 and a beta of 3.61. The firm has a 50 day moving average of $283.93 and a 200-day moving average of $237.20. Coinbase Global, Inc. has a 12 month low of $137.13 and a 12 month high of $349.75.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global 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 completion of the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. This represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 361,798 shares of company stock worth $107,826,444 over the last three months. Corporate insiders own 23.43% of the company’s stock.

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.