Verdence Capital Advisors LLC Grows Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Verdence Capital Advisors LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,744 shares of the cryptocurrency exchange’s stock after buying an additional 604 shares during the period. Verdence Capital Advisors LLC’s holdings in Coinbase Global were worth $1,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global during the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its stake in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Brown Brothers Harriman & Co. increased its stake in Coinbase Global by 408.0% in 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 during the period. Finally, Bogart Wealth LLC increased its stake in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 4.7 %

Shares of COIN stock opened at $222.45 on Thursday. The stock has a 50 day moving average of $264.38 and a 200 day moving average of $241.24. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $56.48 billion, a P/E ratio of 23.42 and a beta of 3.61. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COIN shares. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. The Goldman Sachs Group dropped their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group increased their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

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.