Joel Isaacson & Co. LLC Has $1.99 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Joel Isaacson & Co. LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 103.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,528 shares of the cryptocurrency exchange's stock after acquiring an additional 5,875 shares during the period. Joel Isaacson & Co. LLC's holdings in Coinbase Global were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $372,450,000. Two Sigma Advisers LP boosted its position in Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares in the last quarter. Wellington Management Group LLP boosted its position in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Coinbase Global by 614.8% in the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock valued at $85,253,000 after buying an additional 295,313 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research analyst reports. William Blair initiated coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They issued an "outperform" rating on the stock. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price on the stock. Piper Sandler raised their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Canaccord Genuity Group reiterated a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, May 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $291.06.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $178.79, for a total transaction of $2,681,850.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $94,043.54. This trade represents a 96.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the transaction, the insider now owns 83,313 shares of the company's stock, valued at $16,505,971.56. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 665,915 shares of company stock valued at $212,665,732. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Trading Down 5.8%

NASDAQ COIN traded down $21.64 during mid-day trading on Friday, reaching $353.43. 28,945,154 shares of the stock were exchanged, compared to its average volume of 10,717,985. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $382.00. The stock has a 50 day simple moving average of $249.67 and a 200-day simple moving average of $241.43. The stock has a market cap of $89.73 billion, a P/E ratio of 66.19, a P/E/G ratio of 25.85 and a beta of 3.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share 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 company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted $2.53 earnings per share. The company's revenue for the quarter was up 24.2% on a year-over-year basis. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.