Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires Shares of 1,881 Coinbase Global, Inc. (NASDAQ:COIN)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,881 shares of the cryptocurrency exchange's stock, valued at approximately $327,000.

A number of other large investors have also modified their holdings of COIN. Allspring Global Investments Holdings LLC grew its holdings in shares of Coinbase Global by 4.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,592 shares of the cryptocurrency exchange's stock valued at $2,210,000 after buying an additional 356 shares during the last quarter. Principal Securities Inc. lifted its position in Coinbase Global by 35.3% during the 4th quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange's stock worth $256,000 after acquiring an additional 269 shares during the period. Allworth Financial LP grew its stake in Coinbase Global by 4.1% during the 4th quarter. Allworth Financial LP now owns 2,265 shares of the cryptocurrency exchange's stock valued at $562,000 after purchasing an additional 90 shares during the last quarter. CIBC Asset Management Inc grew its stake in Coinbase Global by 14.6% during the 4th quarter. CIBC Asset Management Inc now owns 7,980 shares of the cryptocurrency exchange's stock valued at $1,981,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Coinbase Global by 18.8% in the fourth quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange's stock valued at $1,633,000 after purchasing an additional 1,040 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COIN shares. Barclays lifted their target price on Coinbase Global from $169.00 to $202.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Bank of America reduced their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Piper Sandler upped their price objective on shares of Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, May 9th. JMP Securities reissued a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $271.88.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction dated Monday, March 24th. 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 114,866 shares in the company, valued at $22,973,200. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 15,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at $88,646.78. This represents a 96.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 228,538 shares of company stock valued at $51,299,116. 17.65% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

NASDAQ COIN traded up $13.09 during trading hours on Friday, reaching $308.38. The company's stock had a trading volume of 31,406,937 shares, compared to its average volume of 10,349,426. The firm has a market capitalization of $78.29 billion, a price-to-earnings ratio of 57.75, a P/E/G ratio of 22.47 and a beta of 3.61. The company's 50-day moving average is $232.43 and its two-hundred day moving average is $240.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its 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 20.25% and a net margin of 21.14%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the company earned $2.53 earnings per share. The company's quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Coinbase Global 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.