Doliver Advisors LP Acquires Shares of 1,623 Coinbase Global, Inc. (NASDAQ:COIN)

Doliver Advisors LP bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,623 shares of the cryptocurrency exchange's stock, valued at approximately $280,000.

Several other institutional investors also recently bought and sold shares of COIN. Mascagni Wealth Management Inc. purchased a new stake in Coinbase Global in the fourth quarter worth about $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global during the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in Coinbase Global during the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Coinbase Global in the fourth quarter worth $35,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded up $12.19 on Tuesday, hitting $258.91. The stock had a trading volume of 9,922,162 shares, compared to its average volume of 10,154,193. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The company's 50 day moving average price is $206.68 and its 200 day moving average price is $244.67. The stock has a market cap of $65.73 billion, a price-to-earnings ratio of 27.25 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the business earned $2.53 EPS. The business's quarterly revenue was up 24.2% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC cut their price objective on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Bank of America cut their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group reissued a "hold" rating and set a $260.00 price target (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a research report on Friday, May 9th. Finally, Benchmark increased their target price on Coinbase Global from $252.00 to $301.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $266.10.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now owns 114,866 shares of the company's stock, valued at $22,973,200. This represents a 6.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 10,000 shares of the company's 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 sale, the chief executive officer now owns 526 shares of the company's stock, valued at $104,226.90. This represents a 95.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 170,717 shares of company stock valued at $36,801,351 in the last quarter. 17.65% 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.