Castle Rock Wealth Management LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,963 shares of the cryptocurrency exchange's stock, valued at approximately $861,000.
Other large investors have also modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the 4th quarter worth $25,000. Copia Wealth Management acquired a new stake in Coinbase Global during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the 4th quarter worth $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the 4th quarter worth $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Coinbase Global during the 4th quarter worth $35,000. Institutional investors and hedge funds own 68.84% of the company's stock.
Insider Buying and Selling
In related news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction on 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 completion of the sale, the chief financial officer now owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $247.15, for a total transaction of $6,178,750.00. Following the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $130,000.90. The trade was a 97.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,717 shares of company stock valued at $42,980,101. Insiders own 17.65% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on COIN shares. Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a research note on Tuesday, May 13th. Barclays raised their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. JMP Securities restated a "market outperform" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Thursday, May 8th. Finally, Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $266.10.
Check Out Our Latest Stock Analysis on Coinbase Global
Coinbase Global Price Performance
NASDAQ:COIN traded up $3.23 during mid-day trading on Thursday, hitting $259.23. 5,260,333 shares of the company's stock traded hands, compared to its average volume of 10,128,253. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm's 50 day simple moving average is $209.73 and its 200 day simple moving average is $244.84. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a market cap of $65.81 billion, a PE ratio of 27.29 and a beta of 3.61.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.
Coinbase Global Company Profile
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Free Report)
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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