FWG Holdings LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

FWG Holdings LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,095 shares of the cryptocurrency exchange’s stock, valued at approximately $272,000.

Several other institutional investors have also recently modified their holdings of COIN. SOA Wealth Advisors LLC. increased its holdings in Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after buying an additional 40 shares during the period. Empowered Funds LLC boosted its holdings in shares of Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after acquiring an additional 44 shares during the period. Capital Advisors Wealth Management LLC raised its holdings in shares of Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 45 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in Coinbase Global by 2.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after purchasing an additional 51 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 1.5 %

Shares of COIN opened at $217.45 on Monday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The stock has a market capitalization of $55.21 billion, a price-to-earnings ratio of 22.89 and a beta of 3.66. The stock has a 50 day moving average price of $262.21 and a 200 day moving average price of $241.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COIN. The Goldman Sachs Group cut 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. Bank of America dropped their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Rosenblatt Securities started coverage on Coinbase Global in a report on Friday. They issued a “buy” rating and a $305.00 price target for the company. Canaccord Genuity Group upped their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $311.21.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction 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 transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 in the last quarter. Company 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.