Coinbase Global, Inc. $COIN Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Coinbase Global, Inc. by 1,745.6% in Q1, bringing its total holdings to 1,901 shares valued at approximately $327,000.
• Wall Street analysts have mixed ratings for Coinbase, with 13 buy ratings, 10 hold ratings, and 2 sell ratings, while consensus target price stands at $352.72.
• Coinbase reported a quarterly EPS of $0.12, significantly below the consensus estimate of $0.91, and had a revenue of $1.50 billion compared to expected revenue of $1.68 billion.

Bayforest Capital Ltd boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1,745.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,901 shares of the cryptocurrency exchange's stock after purchasing an additional 1,798 shares during the quarter. Bayforest Capital Ltd's holdings in Coinbase Global were worth $327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $35,000. Ameriflex Group Inc. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $37,000. Finally, 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 purchasing an additional 113 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COIN. JMP Securities upped their price target on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Barclays increased their price objective on Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. Rosenblatt Securities reissued a "buy" rating and issued a $470.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Wall Street Zen raised Coinbase Global from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Erste Group Bank initiated coverage on Coinbase Global in a report on Wednesday, July 23rd. They issued a "buy" rating for the company. Thirteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $352.72.

Coinbase Global Price Performance

Coinbase Global stock opened at $315.34 on Thursday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. 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 business has a 50 day simple moving average of $341.96 and a 200-day simple moving average of $265.47. The stock has a market capitalization of $81.02 billion, a PE ratio of 30.50 and a beta of 3.68.

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

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $302.19, for a total value of $7,554,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $158,951.94. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $304.52, for a total value of $3,045,200.00. Following the completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at $25,070,522.56. The trade was a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,180,871 shares of company stock worth $440,664,276 over the last three months. 17.65% of the stock is owned by company insiders.

About Coinbase Global

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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