Connective Capital Management LLC Invests $931,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Connective Capital Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,749 shares of the cryptocurrency exchange's stock, valued at approximately $931,000. Coinbase Global makes up approximately 1.1% of Connective Capital Management LLC's holdings, making the stock its 21st largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Savant Capital LLC acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $591,000. Principal Financial Group Inc. raised its stake in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Oxinas Partners Wealth Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $265,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Coinbase Global by 33.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange's stock valued at $25,729,000 after acquiring an additional 25,972 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Coinbase Global by 9.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange's stock valued at $22,413,000 after purchasing an additional 7,597 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Down 3.2%

COIN stock traded down $8.79 during midday trading on Friday, reaching $263.16. The stock had a trading volume of 9,253,825 shares, compared to its average volume of 10,199,946. The firm has a market cap of $66.81 billion, a price-to-earnings ratio of 27.70 and a beta of 3.62. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $199.59 and a two-hundred day simple moving average of $246.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its 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 the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the business posted $2.53 EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on COIN shares. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 target price for the company. Citigroup reaffirmed a "neutral" rating on shares of Coinbase Global in a research note on Thursday, May 8th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $266.40.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $104,226.90. This represents a 95.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total value of $4,049,626.66. Following the transaction, the director now owns 10,417 shares of the company's stock, valued at $2,718,628.66. The trade was a 59.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,764 shares of company stock valued at $35,671,592. 17.65% of the stock is currently owned by insiders.

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.