Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by World Investment Advisors

World Investment Advisors increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 445.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,912 shares of the cryptocurrency exchange's stock after buying an additional 4,012 shares during the quarter. World Investment Advisors' holdings in Coinbase Global were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its stake in Coinbase Global by 125.8% during the 4th quarter. Jones Financial Companies Lllp now owns 490 shares of the cryptocurrency exchange's stock valued at $122,000 after purchasing an additional 273 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Coinbase Global by 10.9% during the 4th quarter. Victory Capital Management Inc. now owns 71,933 shares of the cryptocurrency exchange's stock worth $17,861,000 after buying an additional 7,096 shares during the last quarter. Assetmark Inc. lifted its holdings in Coinbase Global by 27.0% during the 4th quarter. Assetmark Inc. now owns 3,657 shares of the cryptocurrency exchange's stock worth $908,000 after buying an additional 778 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Coinbase Global by 23.9% during the 4th quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock worth $418,000 after buying an additional 325 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Coinbase Global by 10.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,091 shares of the cryptocurrency exchange's stock worth $3,747,000 after buying an additional 1,469 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Coinbase Global stock traded up $19.03 during mid-day trading on Wednesday, hitting $373.85. 13,152,794 shares of the company's stock traded hands, compared to its average volume of 10,804,656. The firm has a 50 day moving average price of $271.24 and a 200 day moving average price of $244.08. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The company has a market cap of $94.91 billion, a PE ratio of 70.01, a price-to-earnings-growth ratio of 26.12 and a beta of 3.70. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results 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). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business posted $2.53 earnings per share. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on COIN. China Renaissance began coverage on Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price on the stock. Keefe, Bruyette & Woods increased their target price on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. Jefferies Financial Group reaffirmed a "hold" rating and set a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. JMP Securities reaffirmed a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a report on Wednesday, June 25th. Finally, Monness Crespi & Hardt raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target on the stock in a report on Tuesday, May 13th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $293.74.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director directly owned 10,417 shares in the company, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their position. 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 336,265 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 685,915 shares of company stock worth $222,081,432. 23.43% of the stock is owned by insiders.

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.