Bridgewater Advisors Inc. Buys Shares of 6,096 Coinbase Global, Inc. (NASDAQ:COIN)

Bridgewater Advisors Inc. acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,096 shares of the cryptocurrency exchange's stock, valued at approximately $1,050,000.

Several other institutional investors have also recently made changes to their positions in COIN. Proficio Capital Partners LLC boosted its stake in shares of Coinbase Global by 23.9% in the fourth quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock worth $418,000 after buying an additional 325 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after acquiring an additional 40 shares during the period. Avantax Advisory Services Inc. boosted its position in Coinbase Global by 15.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,430 shares of the cryptocurrency exchange's stock worth $852,000 after purchasing an additional 461 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Coinbase Global by 10.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock worth $610,000 after purchasing an additional 232 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in shares of Coinbase Global by 7.3% during the 4th quarter. Corient Private Wealth LLC now owns 10,042 shares of the cryptocurrency exchange's stock valued at $2,493,000 after purchasing an additional 686 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Up 2.6%

Shares of COIN traded up $10.18 during midday trading on Wednesday, reaching $398.20. The company had a trading volume of 14,350,542 shares, compared to its average volume of 10,972,884. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $405.88. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $293.80 and a 200-day simple moving average of $249.03. The stock has a market cap of $101.10 billion, a PE ratio of 74.57, a price-to-earnings-growth ratio of 29.52 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. Coinbase Global's revenue for the quarter was up 24.2% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of several analyst reports. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target on the stock in a research report on Tuesday, May 13th. Cantor Fitzgerald initiated coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price target on the stock. Citigroup restated an "outperform" rating on shares of Coinbase Global in a research report on Monday. Oppenheimer increased their target price on Coinbase Global from $395.00 to $417.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $260.00 price target (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of "Moderate Buy" and a consensus price target of $305.71.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $28,702,833.92. This represents a 10.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 3,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the completion of the sale, the chief financial officer owned 97,366 shares in the company, valued at approximately $35,071,233.20. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 864,109 shares of company stock worth $295,681,757 in the last 90 days. Insiders own 17.65% of the company's stock.

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.