Surience Private Wealth LLC Makes New $847,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Surience Private Wealth LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel reports. The firm acquired 3,410 shares of the cryptocurrency exchange’s stock, valued at approximately $847,000. Coinbase Global makes up approximately 1.1% of Surience Private Wealth LLC’s portfolio, making the stock its 19th largest position.

A number of other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after purchasing an additional 51 shares during the last quarter. Pallas Capital Advisors LLC raised its position in Coinbase Global by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after purchasing an additional 51 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Coinbase Global by 3.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after buying an additional 61 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in Coinbase Global by 3.9% in the 3rd quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange’s stock valued at $314,000 after buying an additional 66 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the sale, the director now owns 10,417 shares in the company, valued at $2,936,968.98. This represents a 68.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction 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. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,333 shares of company stock valued at $95,092,118. 23.43% of the stock is owned by insiders.

Coinbase Global Trading Up 7.6 %

Shares of NASDAQ:COIN opened at $274.89 on Thursday. The firm has a market cap of $68.82 billion, a price-to-earnings ratio of 46.91 and a beta of 3.57. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company’s fifty day simple moving average is $289.78 and its 200 day simple moving average is $230.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

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

Analyst Ratings Changes

Several research firms recently issued reports on COIN. Barclays raised their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC raised their price target on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Piper Sandler upped their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $284.17.

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.