Arbor Capital Management Inc. ADV Has $1.26 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Arbor Capital Management Inc. ADV boosted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 17.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,131 shares of the cryptocurrency exchange's stock after purchasing an additional 1,072 shares during the quarter. Arbor Capital Management Inc. ADV's holdings in Coinbase Global were worth $1,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $25,000. Copia Wealth Management bought a new position in Coinbase Global during the 4th quarter worth $26,000. Bessemer Group Inc. raised its holdings in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. Atala Financial Inc bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. Finally, NBT Bank N A NY acquired a new stake in shares of Coinbase Global during the 1st quarter worth $33,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on COIN. Needham & Company LLC dropped their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Friday, May 9th. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a report on Monday, May 12th. Mizuho decreased their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group restated a "hold" rating and set a $260.00 price objective (up from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.06.

Coinbase Global Trading Up 5.7%

Shares of Coinbase Global stock traded up $19.12 on Wednesday, hitting $354.45. The stock had a trading volume of 12,436,051 shares, compared to its average volume of 10,748,460. The stock has a 50 day moving average of $256.09 and a 200 day moving average of $241.87. The firm has a market capitalization of $89.99 billion, a P/E ratio of 66.38, a PEG ratio of 25.64 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $382.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company's revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 15,517 shares of Coinbase Global stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the transaction, the director directly owned 10,417 shares of the company's stock, valued at approximately $2,718,628.66. The trade was a 59.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 113,735 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $363.15, for a total value of $41,302,865.25. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $191,016.90. The trade was a 99.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 665,915 shares of company stock valued at $212,665,732. Company insiders own 23.43% 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.