494 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by CX Institutional

CX Institutional bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 494 shares of the cryptocurrency exchange’s stock, valued at approximately $85,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in COIN. KCM Investment Advisors LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $507,000. Principal Securities Inc. boosted its stake in Coinbase Global by 35.3% during the 4th quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange’s stock valued at $256,000 after purchasing an additional 269 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Coinbase Global by 10.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange’s stock valued at $610,000 after buying an additional 232 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in Coinbase Global by 87.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange’s stock worth $578,000 after buying an additional 1,561 shares during the period. Finally, Stephens Inc. AR acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $261,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research reports. Cantor Fitzgerald assumed coverage on Coinbase Global in a research note on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a research report on Friday, May 9th. Barclays raised their price objective on shares of Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Canaccord Genuity Group restated a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Finally, Mizuho decreased their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $268.00.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at approximately $16,505,971.56. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $88,646.78. This trade represents a 96.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,717 shares of company stock worth $49,363,601 in the last quarter. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $261.57 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market cap of $66.41 billion, a price-to-earnings ratio of 27.53 and a beta of 3.61. The stock’s fifty day moving average price is $223.36 and its two-hundred day moving average price is $240.64. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $2.53 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.