Alpine Global Management LLC Acquires New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Alpine Global Management LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,576 shares of the cryptocurrency exchange's stock, valued at approximately $640,000.

Other large investors have also made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new position in Coinbase Global during the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its stake in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $35,000. Finally, Studio Investment Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $38,000. 68.84% of the stock is currently owned by institutional investors.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 1,952 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total value of $488,000.00. Following the sale, the insider now directly owns 81,773 shares of the company's stock, valued at approximately $20,443,250. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the sale, the director now directly owns 10,417 shares of the company's stock, valued at $2,718,628.66. This represents a 59.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,786 shares of company stock valued at $33,345,024 in the last 90 days. 17.65% of the stock is currently owned by company insiders.

Coinbase Global Stock Performance

COIN traded down $8.54 during midday trading on Wednesday, hitting $257.86. 4,857,388 shares of the company were exchanged, compared to its average volume of 10,170,122. The company's 50 day simple moving average is $202.58 and its 200 day simple moving average is $246.56. The firm has a market capitalization of $65.46 billion, a price-to-earnings ratio of 27.10 and a beta of 3.62. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their target price 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. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. JMP Securities reiterated a "market outperform" rating and set a $400.00 price objective on shares of Coinbase Global in a report on Thursday, May 8th. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Finally, Oppenheimer set a $293.00 target price on Coinbase Global in a research note on Thursday, May 15th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $266.10.

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.