Belpointe Asset Management LLC Has $350,000 Position in Coinbase Global, Inc. $COIN

Key Points

• Belpointe Asset Management LLC increased its stake in Coinbase Global, Inc. by 78.8% in Q1, owning shares worth $350,000.
• Insider transactions indicated that Lawrence J. Brock sold 5,903 shares of Coinbase stock, reducing his position by 92.51%.
• Coinbase reported a quarterly EPS of $0.12, missing estimates by $0.79, despite a 3.3% increase in revenue compared to the previous year.

Belpointe Asset Management LLC grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 78.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,031 shares of the cryptocurrency exchange's stock after buying an additional 895 shares during the quarter. Belpointe Asset Management LLC's holdings in Coinbase Global were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mascagni Wealth Management Inc. bought a new position in Coinbase Global in the fourth quarter valued at about $25,000. Copia Wealth Management bought a new position in Coinbase Global in the fourth quarter valued at about $26,000. Bessemer Group Inc. boosted its holdings in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Coinbase Global in the first quarter valued at about $30,000. Finally, S Bank Fund Management Ltd bought a new position in Coinbase Global in the first quarter valued at about $31,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Lawrence J. Brock sold 5,903 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares of the company's stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 1,756 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $300.52, for a total value of $527,713.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,173,050 shares of company stock valued at $438,728,761. 23.43% of the stock is owned by insiders.

Coinbase Global Price Performance

Shares of COIN opened at $323.04 on Monday. The company's 50-day moving average is $340.68 and its 200-day moving average is $267.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm has a market capitalization of $83.00 billion, a PE ratio of 31.24 and a beta of 3.68. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent analyst reports. Compass Point restated a "sell" rating and set a $248.00 target price (down previously from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Canaccord Genuity Group restated a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. JMP Securities raised their target price on Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. HC Wainwright restated a "sell" rating and set a $300.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Finally, Wall Street Zen upgraded Coinbase Global from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $352.72.

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.

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