Red Door Wealth Management LLC Purchases Shares of 1,223 Coinbase Global, Inc. (NASDAQ:COIN)

Red Door Wealth Management LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,223 shares of the cryptocurrency exchange’s stock, valued at approximately $304,000.

Other institutional investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global during the third quarter valued at $25,000. ORG Wealth Partners LLC bought a new stake in Coinbase Global during the third quarter valued at $32,000. MassMutual Private Wealth & Trust FSB boosted its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Coinbase Global during the third quarter valued at $55,000. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,489 shares of company stock worth $109,624,297 in the last quarter. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho increased their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $282.83.

Coinbase Global Trading Up 0.7 %

Shares of COIN stock opened at $298.00 on Friday. The company has a 50 day moving average of $290.54 and a 200-day moving average of $233.72. 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, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The firm has a market cap of $74.60 billion, a P/E ratio of 50.85 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

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.