D.A. Davidson & CO. Has $2.54 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

D.A. Davidson & CO. raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 79.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,757 shares of the cryptocurrency exchange's stock after purchasing an additional 6,539 shares during the period. D.A. Davidson & CO.'s holdings in Coinbase Global were worth $2,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock worth $239,000 after buying an additional 40 shares in the last quarter. IPG Investment Advisors LLC lifted its position in Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock worth $561,000 after buying an additional 45 shares in the last quarter. Vivaldi Capital Management LP raised its holdings in Coinbase Global by 0.3% during the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after purchasing an additional 47 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Coinbase Global by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock worth $2,746,000 after purchasing an additional 55 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in Coinbase Global by 2.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange's stock worth $653,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Up 0.3%

Shares of NASDAQ COIN opened at $355.58 on Monday. The stock's fifty day moving average is $265.23 and its 200 day moving average is $242.75. The stock has a market capitalization of $90.27 billion, a P/E ratio of 66.59, a PEG ratio of 26.03 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business earned $2.53 earnings per share. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COIN. JMP Securities reaffirmed a "market outperform" rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Wednesday, June 25th. Sanford C. Bernstein upped their price target on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Monness Crespi & Hardt raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a research report on Tuesday, May 13th. William Blair assumed coverage on Coinbase Global in a report on Wednesday, June 11th. They issued an "outperform" rating for the company. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $300.00 price objective on shares of Coinbase Global in a research report on Monday, June 16th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $291.06.

Insider Activity

In other news, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the sale, the chief financial officer directly owned 97,366 shares of the company's stock, valued at approximately $35,071,233.20. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total value of $3,486,400.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 685,915 shares of company stock valued at $222,081,432. 23.43% of the stock is currently owned by corporate 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.

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