CV Advisors LLC Has $935,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

CV Advisors LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 23.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,426 shares of the cryptocurrency exchange's stock after selling 1,667 shares during the quarter. Coinbase Global makes up approximately 0.3% of CV Advisors LLC's portfolio, making the stock its 20th biggest position. CV Advisors LLC's holdings in Coinbase Global were worth $935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in Coinbase Global by 23.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 37,869 shares of the cryptocurrency exchange's stock worth $6,522,000 after buying an additional 7,073 shares during the period. Refined Wealth Management raised its position in shares of Coinbase Global by 16.4% in the 1st quarter. Refined Wealth Management now owns 57,808 shares of the cryptocurrency exchange's stock worth $9,956,000 after acquiring an additional 8,132 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Coinbase Global in the 1st quarter worth about $1,015,000. Kentucky Retirement Systems bought a new position in shares of Coinbase Global in the 1st quarter worth about $2,382,000. Finally, Garde Capital Inc. bought a new position in shares of Coinbase Global in the 1st quarter worth about $61,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the completion of the transaction, the insider now owns 83,313 shares in the company, valued at approximately $16,505,971.56. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,963 shares of company stock worth $49,784,116. Insiders own 23.43% of the company's stock.

Coinbase Global Stock Performance

COIN stock opened at $308.38 on Monday. The firm has a market cap of $78.29 billion, a PE ratio of 57.75, a P/E/G ratio of 22.47 and a beta of 3.62. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $232.43 and a 200-day moving average of $239.87. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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 21.14% and a return on equity of 20.25%. The business's revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 earnings per share. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on COIN. Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $300.00 target price on shares of Coinbase Global in a research report on Monday, June 16th. Piper Sandler boosted their target price on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $260.00 target price (up from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Finally, China Renaissance assumed coverage on Coinbase Global in a research report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 target price for the company. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $271.88.

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.

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