Clarity Capital Partners LLC Purchases 974 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Clarity Capital Partners LLC lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 5.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,814 shares of the cryptocurrency exchange's stock after purchasing an additional 974 shares during the quarter. Coinbase Global comprises 1.2% of Clarity Capital Partners LLC's holdings, making the stock its 15th biggest position. Clarity Capital Partners LLC's holdings in Coinbase Global were worth $3,068,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COIN. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at approximately $25,000. Copia Wealth Management acquired a new position in Coinbase Global during the 4th quarter worth approximately $26,000. Bessemer Group Inc. boosted its position in Coinbase Global by 297.4% during the 1st 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 last quarter. Atala Financial Inc acquired a new position in Coinbase Global during the 4th quarter worth approximately $27,000. Finally, NBT Bank N A NY acquired a new position in Coinbase Global during the 1st quarter worth approximately $33,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN traded up $1.13 during trading hours on Friday, reaching $355.58. The company's stock had a trading volume of 6,704,285 shares, compared to its average volume of 10,787,788. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $382.00. The company's 50-day moving average is $265.23 and its 200-day moving average is $243.22. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market cap of $90.27 billion, a PE ratio of 66.59, a price-to-earnings-growth ratio of 26.03 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results 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). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company posted $2.53 EPS. The firm's revenue was up 24.2% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COIN. Citigroup reaffirmed a "buy" rating on shares of Coinbase Global in a research report on Wednesday, June 25th. JPMorgan Chase & Co. reduced their price target on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Jefferies Financial Group reaffirmed a "hold" rating and set a $260.00 price target (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. JMP Securities reaffirmed a "market outperform" rating and set a $400.00 price target on shares of Coinbase Global in a research report on Wednesday, June 25th. Finally, Monness Crespi & Hardt raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a research report on Tuesday, May 13th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $291.06.

Insider Activity at Coinbase Global

In other Coinbase Global 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 transaction, the insider owned 82,328 shares in the company, valued at $28,702,833.92. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 3,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total value of $1,080,600.00. Following the transaction, the chief financial officer owned 97,366 shares in the company, valued at $35,071,233.20. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 685,915 shares of company stock worth $222,081,432. Company insiders own 17.65% of the company's stock.

Coinbase Global Company 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.