Exchange Traded Concepts LLC Has $21.65 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Exchange Traded Concepts LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 39.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,699 shares of the cryptocurrency exchange's stock after acquiring an additional 35,434 shares during the period. Exchange Traded Concepts LLC's holdings in Coinbase Global were worth $21,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $25,000. Copia Wealth Management acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $26,000. Atala Financial Inc purchased a new stake in Coinbase Global during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC acquired a new position in Coinbase Global during the fourth quarter worth about $35,000. Finally, Brooklands Fund Management Ltd acquired a new position in Coinbase Global during the fourth quarter worth about $37,245,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction on 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 completion of the sale, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. This represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,717 shares of company stock valued at $49,363,601. Company insiders own 17.65% of the company's stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. Oppenheimer set a $293.00 price target on Coinbase Global in a research note on Thursday, May 15th. The Goldman Sachs Group lifted their price objective on Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $268.00.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $12.97 during trading on Monday, reaching $255.68. 4,012,406 shares of the company's stock traded hands, compared to its average volume of 10,090,017. The stock has a market capitalization of $64.91 billion, a P/E ratio of 26.95 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a 50 day moving average of $221.16 and a 200-day moving average of $240.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

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

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.