Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC increased its stake in Coinbase Global, Inc. by 17.9%, acquiring an additional 2,440 shares, bringing its total holdings to 16,054 shares valued at approximately $2.76 million.
• Wall Street analysts have raised their price targets for Coinbase Global, with forecasts ranging from $205 to $510, reflecting a strong optimism in the company's growth potential.
• Insider selling is notable, with CEO Brian Armstrong selling 336,265 shares, representing a 99.84% decrease in his position, which raises questions about insider confidence in the company's future.

Foundations Investment Advisors LLC lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 17.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,054 shares of the cryptocurrency exchange's stock after buying an additional 2,440 shares during the quarter. Foundations Investment Advisors LLC's holdings in Coinbase Global were worth $2,765,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COIN. Sei Investments Co. grew its stake in Coinbase Global by 44.9% during the fourth quarter. Sei Investments Co. now owns 20,938 shares of the cryptocurrency exchange's stock valued at $5,200,000 after acquiring an additional 6,488 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Coinbase Global by 64.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 10,023 shares of the cryptocurrency exchange's stock worth $2,489,000 after buying an additional 3,918 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Coinbase Global by 36.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 346 shares of the cryptocurrency exchange's stock worth $86,000 after buying an additional 92 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Coinbase Global by 51.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 72,681 shares of the cryptocurrency exchange's stock worth $18,047,000 after buying an additional 24,536 shares in the last quarter. Finally, RWA Wealth Partners LLC grew its stake in Coinbase Global by 8.7% in the 4th quarter. RWA Wealth Partners LLC now owns 2,509 shares of the cryptocurrency exchange's stock worth $623,000 after buying an additional 201 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 16.7%

NASDAQ:COIN traded down $63.07 during trading hours on Friday, reaching $314.69. The company's stock had a trading volume of 31,265,570 shares, compared to its average volume of 11,559,282. The firm has a market capitalization of $79.89 billion, a price-to-earnings ratio of 58.93, a PEG ratio of 26.30 and a beta of 3.70. The firm has a 50-day simple moving average of $326.60 and a 200-day simple moving average of $259.23. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. 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 (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $0.14 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 198,300 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $209,279.62. This represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the transaction, the insider owned 82,328 shares of the company's stock, valued at $28,702,833.92. This trade represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,208,340 shares of company stock valued at $439,997,456. Insiders own 17.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COIN shares. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a research note on Monday, May 12th. Williams Trading set a $405.00 price target on shares of Coinbase Global in a report on Thursday. Argus initiated coverage on shares of Coinbase Global in a report on Monday, July 14th. They set a "buy" rating and a $400.00 price target for the company. JMP Securities upped their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Finally, William Blair initiated coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They set an "outperform" rating for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Hold" and a consensus price target of $344.55.

Coinbase Global Company 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.