Boyd Watterson Asset Management LLC OH Takes $888,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Boyd Watterson Asset Management LLC OH acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,158 shares of the cryptocurrency exchange's stock, valued at approximately $888,000.

A number of other large investors have also recently made changes to their positions in COIN. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global in the fourth quarter worth about $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global in the fourth quarter worth about $26,000. Bessemer Group Inc. raised its position in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after acquiring an additional 113 shares during the period. NBT Bank N A NY acquired a new position in shares of Coinbase Global in the first quarter worth about $33,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Coinbase Global in the first quarter worth about $34,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the transaction, the director owned 10,417 shares of the company's stock, valued at $2,632,167.56. The trade was a 74.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,208,340 shares of company stock valued at $439,997,456. Company insiders own 17.65% of the company's stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Rosenblatt Securities boosted their target price on shares of Coinbase Global from $300.00 to $470.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. cut 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 note on Friday, May 9th. HC Wainwright reissued a "sell" rating and set a $300.00 target price (down previously from $305.00) on shares of Coinbase Global in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $320.06.

Coinbase Global Stock Performance

Coinbase Global stock traded down $5.04 during midday trading on Friday, hitting $391.66. 8,619,904 shares of the company's stock were exchanged, compared to its average volume of 13,896,728. The stock has a market cap of $99.43 billion, a price-to-earnings ratio of 73.34, a price-to-earnings-growth ratio of 30.24 and a beta of 3.70. The firm's 50 day simple moving average is $317.61 and its 200 day simple moving average is $255.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business's quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.53 EPS. Equities research 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.