Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Boosted by Intellectus Partners LLC

Intellectus Partners LLC grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,905 shares of the cryptocurrency exchange's stock after buying an additional 1,150 shares during the quarter. Intellectus Partners LLC's holdings in Coinbase Global were worth $1,017,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COIN. Vanguard Group Inc. boosted its stake in Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange's stock valued at $4,573,462,000 after acquiring an additional 128,802 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock worth $882,822,000 after purchasing an additional 127,075 shares during the last quarter. Norges Bank bought a new position in shares of Coinbase Global during the fourth quarter worth about $536,484,000. Groupama Asset Managment acquired a new position in Coinbase Global in the fourth quarter worth about $372,450,000. Finally, Northern Trust Corp increased its holdings in Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after buying an additional 218,400 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Performance

NASDAQ COIN traded up $7.07 on Friday, hitting $251.27. The stock had a trading volume of 7,349,791 shares, compared to its average volume of 10,147,934. 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 one year low of $142.58 and a one year high of $349.75. The stock has a market cap of $63.79 billion, a price-to-earnings ratio of 26.45 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.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company earned $2.53 earnings per share. The business's quarterly revenue was up 24.2% compared to the same quarter last year. On average, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Oppenheimer set a $293.00 target price on Coinbase Global in a report on Thursday, May 15th. Rosenblatt Securities restated a "buy" rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, May 12th. Piper Sandler lifted their price objective on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price for the company in a research note on Tuesday, May 13th. Finally, Benchmark increased their target price on shares of Coinbase Global from $252.00 to $301.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $266.10.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $130,000.90. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,717 shares of company stock worth $42,980,101. 17.65% of the stock is owned by company insiders.

Coinbase Global 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.