GAMMA Investing LLC Acquires 192,375 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

GAMMA Investing LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 18,515.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 193,414 shares of the cryptocurrency exchange's stock after purchasing an additional 192,375 shares during the quarter. GAMMA Investing LLC owned 0.08% of Coinbase Global worth $33,312,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in COIN. Mascagni Wealth Management Inc. bought a new position in Coinbase Global during the fourth quarter valued at about $25,000. Copia Wealth Management acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Coinbase Global in the fourth quarter worth $35,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday, May 9th. The Goldman Sachs Group upped their target price on shares of Coinbase Global from $189.00 to $209.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $260.00 price objective (up from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $266.10.

Insider Buying and Selling

In related news, insider Paul Grewal sold 1,952 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total transaction of $488,000.00. Following the completion of the transaction, the insider now owns 81,773 shares in the company, valued at approximately $20,443,250. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at $130,000.90. The trade was a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,717 shares of company stock valued at $42,980,101 over the last three months. Company insiders own 17.65% of the company's stock.

Coinbase Global Trading Up 4.2%

NASDAQ:COIN traded up $10.27 during trading hours on Friday, hitting $254.47. 5,155,133 shares of the stock were exchanged, compared to its average volume of 10,137,057. The company has a market capitalization of $64.60 billion, a P/E ratio of 26.77 and a beta of 3.61. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The company's 50 day moving average is $211.17 and its two-hundred day moving average is $244.28. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global's revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.53 EPS. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.