Columbia Advisory Partners LLC Buys Shares of 1,264 Coinbase Global, Inc. (NASDAQ:COIN)

Columbia Advisory Partners LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,264 shares of the cryptocurrency exchange's stock, valued at approximately $218,000.

Several other large investors have also bought and sold shares of COIN. Norges Bank bought a new stake in shares of Coinbase Global in the fourth quarter worth about $536,484,000. Groupama Asset Managment bought a new stake in Coinbase Global in the 4th quarter valued at $372,450,000. Proficio Capital Partners LLC boosted its stake in Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after purchasing an additional 417,036 shares during the period. Two Sigma Advisers LP increased its holdings in Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after purchasing an additional 333,600 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after purchasing an additional 302,595 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was 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 in the company, valued at $16,505,971.56. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $88,646.78. The trade was a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,717 shares of company stock worth $42,980,101 in the last quarter. Corporate insiders own 17.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Barclays increased their price target on Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. 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 note on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $266.10.

Coinbase Global Stock Performance

COIN stock traded down $6.36 during trading hours on Thursday, hitting $244.32. 3,774,098 shares of the stock were exchanged, compared to its average volume of 10,096,460. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $62.03 billion, a P/E ratio of 25.72 and a beta of 3.61. The company has a 50-day simple moving average of $217.66 and a two-hundred day simple moving average of $242.69.

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 net margin of 39.34% and a return on equity of 20.64%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the company posted $2.53 earnings per share. The company's revenue was up 24.2% on a year-over-year basis. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

About Coinbase Global

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.