Elyxium Wealth LLC Invests $497,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Elyxium Wealth LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the cryptocurrency exchange's stock, valued at approximately $497,000.

Several other hedge funds have also bought and sold shares of the stock. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth about $50,000. Finally, BNP Paribas bought a new stake in shares of Coinbase Global in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COIN. Barclays restated an "equal weight" rating on shares of Coinbase Global in a report on Thursday. Citigroup restated a "neutral" rating on shares of Coinbase Global in a report on Thursday. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Finally, Piper Sandler boosted their target price on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of "Hold" and an average target price of $268.65.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $200.54, for a total transaction of $5,013,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at $105,484.04. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $3,074,056.70. This represents a 42.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 153,742 shares of company stock valued at $32,639,759 over the last 90 days. Insiders own 17.65% of the company's stock.

Coinbase Global Trading Down 3.4%

COIN stock traded down $7.03 during mid-day trading on Friday, reaching $199.47. The company had a trading volume of 16,352,397 shares, compared to its average volume of 9,657,497. 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 company has a market capitalization of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. The firm has a 50 day moving average of $187.38 and a 200 day moving average of $243.30. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75.

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