Simplicity Wealth LLC Acquires 8,199 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Simplicity Wealth LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 383.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,335 shares of the cryptocurrency exchange's stock after purchasing an additional 8,199 shares during the period. Simplicity Wealth LLC's holdings in Coinbase Global were worth $1,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Yousif Capital Management LLC lifted its holdings in Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock worth $635,000 after purchasing an additional 44 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Coinbase Global by 15.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,930 shares of the cryptocurrency exchange's stock valued at $479,000 after acquiring an additional 258 shares during the period. Empowered Funds LLC lifted its position in Coinbase Global by 31.5% in the fourth quarter. Empowered Funds LLC now owns 6,820 shares of the cryptocurrency exchange's stock worth $1,693,000 after purchasing an additional 1,635 shares during the period. Stephens Inc. AR bought a new position in Coinbase Global during the fourth quarter valued at about $261,000. Finally, Kestra Private Wealth Services LLC raised its position in Coinbase Global by 35.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 18,552 shares of the cryptocurrency exchange's stock worth $4,606,000 after acquiring an additional 4,829 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded down $6.27 on Thursday, reaching $244.41. The stock had a trading volume of 2,993,585 shares, compared to its average volume of 10,094,390. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The business's 50-day moving average price is $217.66 and its two-hundred day moving average price is $242.69. The stock has a market cap of $62.05 billion, a P/E ratio of 25.73 and a beta of 3.61. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results 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 net margin of 39.34% and a return on equity of 20.64%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company earned $2.53 earnings per share. The firm's revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. Needham & Company LLC cut their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a research report on Friday, May 9th. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, May 9th. Finally, Oppenheimer set a $293.00 price target on Coinbase Global in a research note on Thursday, May 15th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $266.10.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 1,952 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total transaction of $488,000.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the 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 completion of the sale, the chief financial officer now owns 114,866 shares of the company's stock, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,717 shares of company stock worth $42,980,101. Insiders own 17.65% of the company's stock.

Coinbase Global Company 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.