GFS Advisors LLC Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

GFS Advisors LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,700 shares of the cryptocurrency exchange's stock, valued at approximately $637,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $26,000. Atala Financial Inc acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC purchased a new position in Coinbase Global in the fourth quarter worth $35,000. Finally, Brooklands Fund Management Ltd acquired a new position in shares of Coinbase Global during the fourth quarter worth $37,245,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Cantor Fitzgerald started coverage on Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective for the company. Jefferies Financial Group reissued a "hold" rating and issued a $260.00 price target (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. 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 report on Monday, May 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $300.00 target price on shares of Coinbase Global in a research note on Monday. Finally, Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $271.88.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction 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 represents a 10.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were 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 $88,646.78. This trade represents a 96.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,538 shares of company stock worth $51,299,116. 17.65% of the stock is owned by company insiders.

Coinbase Global Stock Up 16.3%

Shares of COIN stock opened at $295.29 on Thursday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The stock has a market cap of $74.97 billion, a P/E ratio of 55.30, a P/E/G ratio of 18.50 and a beta of 3.61. The stock has a 50 day moving average of $227.26 and a 200 day moving average of $241.11. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results 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). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the firm earned $2.53 earnings per share. Coinbase Global's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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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