1,477 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Lazari Capital Management Inc.

Lazari Capital Management Inc. purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,477 shares of the cryptocurrency exchange's stock, valued at approximately $254,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its holdings in Coinbase Global by 5.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 73,643 shares of the cryptocurrency exchange's stock valued at $12,684,000 after purchasing an additional 3,818 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Coinbase Global by 60.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 16,724 shares of the cryptocurrency exchange's stock valued at $2,880,000 after acquiring an additional 6,315 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Coinbase Global by 23.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 37,869 shares of the cryptocurrency exchange's stock valued at $6,522,000 after acquiring an additional 7,073 shares during the last quarter. Refined Wealth Management raised its position in shares of Coinbase Global by 16.4% during the 1st quarter. Refined Wealth Management now owns 57,808 shares of the cryptocurrency exchange's stock worth $9,956,000 after purchasing an additional 8,132 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Coinbase Global during the 1st quarter worth approximately $1,015,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Needham & Company LLC cut their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. The Goldman Sachs Group lifted their price objective on Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. Piper Sandler lifted their price objective on Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Barclays lifted their price objective on Coinbase Global from $169.00 to $202.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $277.33.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now owns 107,291 shares of the company's stock, valued at $21,458,200. This represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 212,915 shares of company stock worth $48,349,215. Corporate insiders own 23.43% of the company's stock.

Coinbase Global Trading Down 0.3%

COIN stock opened at $307.59 on Tuesday. The company has a market cap of $78.09 billion, a price-to-earnings ratio of 57.60, a PEG ratio of 22.47 and a beta of 3.62. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $235.05 and a 200-day simple moving average of $239.61. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week 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 (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company posted $2.53 earnings per share. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current 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.

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