Three Bridge Wealth Advisors LLC Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Three Bridge Wealth Advisors LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 150,063 shares of the cryptocurrency exchange’s stock after acquiring an additional 188 shares during the period. Coinbase Global accounts for about 9.0% of Three Bridge Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Three Bridge Wealth Advisors LLC’s holdings in Coinbase Global were worth $26,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Barrett & Company Inc. bought a new position in Coinbase Global in the fourth quarter worth $26,000. AlphaMark Advisors LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $33,000. Signature Resources Capital Management LLC bought a new stake in Coinbase Global during the fourth quarter worth about $39,000. Harbor Investment Advisory LLC grew its holdings in Coinbase Global by 68.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after purchasing an additional 100 shares during the period. Finally, Coston McIsaac & Partners bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday, May 3rd. Singular Research restated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Bank of America upped their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Finally, Needham & Company LLC reduced their price objective on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $200.63.

Read Our Latest Stock Analysis on Coinbase Global

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at $4,933,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at $12,585,661.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,563 shares of company stock worth $104,873,137. 33.16% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Coinbase Global stock traded up $16.86 during mid-day trading on Wednesday, reaching $219.91. 9,298,895 shares of the stock traded hands, compared to its average volume of 12,802,160. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The business’s 50-day moving average is $236.34 and its 200-day moving average is $173.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $54.00 billion, a PE ratio of 43.89 and a beta of 3.46.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period last year, the firm earned ($2.46) earnings per share. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

About Coinbase Global

(Free Report)

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.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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