Elevation Point Wealth Partners LLC Purchases 980 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Elevation Point Wealth Partners LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 71.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,358 shares of the cryptocurrency exchange's stock after acquiring an additional 980 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Coinbase Global were worth $406,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $26,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $35,000. Finally, Brooklands Fund Management Ltd acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $37,245,000. Institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Up 7.8%

Shares of COIN stock opened at $261.57 on Tuesday. The company has a 50 day moving average of $223.36 and a 200-day moving average of $240.64. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The firm has a market cap of $66.41 billion, a P/E ratio of 27.53 and a beta of 3.61.

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 analysts' consensus estimates 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 analysts' expectations of $2.22 billion. During the same quarter in the prior year, the firm posted $2.53 earnings per share. The firm's quarterly revenue was up 24.2% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

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 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 directly owns 83,313 shares of the company's stock, valued at $16,505,971.56. This trade represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the transaction, the director now directly owns 10,417 shares of the company's stock, valued at approximately $2,632,167.56. The trade was a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,717 shares of company stock worth $49,363,601. Corporate insiders own 17.65% of the company's stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. Piper Sandler raised their target price on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. dropped their price target on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Mizuho dropped their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Monness Crespi & Hardt raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target on the stock in a research report on Tuesday, May 13th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $300.00 price target on shares of Coinbase Global in a research report on Monday. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $268.00.

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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