Coinbase Global, Inc. (NASDAQ:COIN) is Paradigm Operations LP's Largest Position

Paradigm Operations LP lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,128,033 shares of the cryptocurrency exchange's stock after selling 387,563 shares during the quarter. Coinbase Global makes up about 100.0% of Paradigm Operations LP's holdings, making the stock its largest position. Paradigm Operations LP owned 1.65% of Coinbase Global worth $1,024,991,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global in the fourth quarter valued at $27,000. Atala Financial Inc acquired a new position in Coinbase Global in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted 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 valued at $34,000 after acquiring an additional 106 shares in the last quarter. Brooklands Fund Management Ltd acquired a new position in Coinbase Global in the fourth quarter valued at $37,245,000. Finally, BNP Paribas acquired a new position in Coinbase Global in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on COIN shares. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a research note on Monday, May 12th. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Finally, Mizuho decreased their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $265.20.

Coinbase Global Stock Performance

NASDAQ:COIN traded up $22.02 during mid-day trading on Friday, reaching $266.46. The stock had a trading volume of 72,432,540 shares, compared to its average volume of 10,164,986. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 28.05 and a beta of 3.62. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The business has a 50 day simple moving average of $191.65 and a 200 day simple moving average of $244.07.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 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 firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the business earned $2.53 EPS. Coinbase Global's revenue for the quarter was up 24.2% on a year-over-year basis. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul Grewal sold 10,978 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company's stock, valued at $17,656,524.09. This trade 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 30,167 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 168,764 shares of company stock worth $35,671,592. Company insiders own 17.65% 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.