Coinbase Global, Inc. (NASDAQ:COIN) is Ground Swell Capital LLC's 3rd Largest Position

Ground Swell Capital LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 556.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,089 shares of the cryptocurrency exchange's stock after acquiring an additional 6,856 shares during the period. Coinbase Global accounts for about 3.0% of Ground Swell Capital LLC's holdings, making the stock its 3rd biggest position. Ground Swell Capital LLC's holdings in Coinbase Global were worth $1,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the 4th quarter valued at about $26,000. Bessemer Group Inc. increased 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 purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global during the 1st quarter worth approximately $30,000. Finally, S Bank Fund Management Ltd purchased a new stake in shares of Coinbase Global during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on COIN shares. Citigroup upped their target price on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Williams Trading set a $405.00 price target on Coinbase Global in a research note on Thursday, July 31st. Rosenblatt Securities restated a "buy" rating and set a $470.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Needham & Company LLC upped their price objective on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Erste Group Bank assumed coverage on Coinbase Global in a report on Wednesday, July 23rd. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $352.18.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction 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. The trade was a 99.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 1,160,704 shares of company stock worth $430,750,982. Insiders own 17.65% of the company's stock.

Coinbase Global Trading Up 1.4%

NASDAQ COIN opened at $327.01 on Thursday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The stock has a market cap of $84.02 billion, a price-to-earnings ratio of 31.63 and a beta of 3.70. The firm's 50 day moving average price is $337.03 and its two-hundred day moving average price is $260.87.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share 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 firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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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