Coinbase Global, Inc. $COIN Shares Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,343 shares of the cryptocurrency exchange's stock after buying an additional 1,032 shares during the quarter. Flputnam Investment Management Co.'s holdings in Coinbase Global were worth $2,298,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vivaldi Capital Management LP raised its stake in shares of Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after purchasing an additional 47 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Coinbase Global by 7.1% in the 1st quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange's stock valued at $124,000 after purchasing an additional 48 shares in the last quarter. Rede Wealth LLC raised its stake in shares of Coinbase Global by 0.6% in the 1st quarter. Rede Wealth LLC now owns 8,027 shares of the cryptocurrency exchange's stock valued at $1,382,000 after purchasing an additional 50 shares in the last quarter. Callan Capital LLC raised its stake in shares of Coinbase Global by 5.1% in the 1st quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock valued at $215,000 after purchasing an additional 61 shares in the last quarter. Finally, TRU Independence Asset Management 2 LLC raised its stake in shares of Coinbase Global by 2.7% in the 1st quarter. TRU Independence Asset Management 2 LLC now owns 2,493 shares of the cryptocurrency exchange's stock valued at $429,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 1,170,871 shares of company stock valued at $436,447,826. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Performance

Shares of COIN opened at $304.54 on Tuesday. The company's fifty day moving average is $348.38 and its 200-day moving average is $263.18. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The firm has a market cap of $78.25 billion, a price-to-earnings ratio of 29.45 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $0.14 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent analyst reports. Williams Trading set a $405.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Benchmark increased their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Piper Sandler reiterated a "neutral" rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, William Blair assumed coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They issued an "outperform" rating for the company. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $352.72.

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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