Alpine Global Management LLC Invests $640,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Alpine Global Management LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,576 shares of the cryptocurrency exchange's stock, valued at approximately $640,000.

Other large investors have also recently modified their holdings of the company. Savant Capital LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $591,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Coinbase Global by 33.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange's stock valued at $25,729,000 after purchasing an additional 25,972 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Coinbase Global by 9.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange's stock valued at $22,413,000 after purchasing an additional 7,597 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Coinbase Global by 198.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange's stock valued at $3,380,000 after purchasing an additional 9,045 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $322,000. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded down $8.79 during midday trading on Friday, reaching $263.16. The stock had a trading volume of 9,253,825 shares, compared to its average volume of 10,199,748. The stock has a 50-day moving average of $199.59 and a 200-day moving average of $246.47. 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 company has a market capitalization of $66.81 billion, a price-to-earnings ratio of 27.70 and a beta of 3.62. 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 issued its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company posted $2.53 EPS. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on COIN shares. JMP Securities reaffirmed a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a research note on Thursday, May 8th. Rosenblatt Securities reissued a "buy" rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, May 12th. Mizuho dropped their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Cantor Fitzgerald began coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective for the company. Finally, Needham & Company LLC decreased their price objective on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. Ten investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.40.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were 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 owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61% 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 this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction 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 owns 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,764 shares of company stock worth $35,671,592. 17.65% of the stock is owned by insiders.

About Coinbase Global

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.