Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Intellectus Partners LLC

Intellectus Partners LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 24.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,905 shares of the cryptocurrency exchange's stock after buying an additional 1,150 shares during the period. Intellectus Partners LLC's holdings in Coinbase Global were worth $1,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. purchased a new stake in Coinbase Global in the fourth quarter valued at $25,000. Copia Wealth Management purchased a new stake in Coinbase Global in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the fourth quarter valued at $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Coinbase Global in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COIN shares. JPMorgan Chase & Co. cut their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective on the stock in a report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Thursday, May 8th. Finally, Needham & Company LLC cut their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

Coinbase Global Stock Up 2.1%

Shares of NASDAQ:COIN traded up $5.36 on Monday, hitting $256.63. 6,011,767 shares of the company's stock were exchanged, compared to its average volume of 10,135,208. The firm's 50-day moving average is $212.70 and its 200 day moving average is $242.88. The company has a market capitalization of $65.15 billion, a PE ratio of 27.01 and a beta of 3.61. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The company's revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 earnings per share. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company's stock, valued at approximately $16,505,971.56. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the transaction, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at approximately $22,973,200. This represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,717 shares of company stock valued at $42,980,101. 17.65% of the stock is currently owned by corporate 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.