Hennessy Advisors Inc. Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Hennessy Advisors Inc. lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 21.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,700 shares of the cryptocurrency exchange's stock after purchasing an additional 1,200 shares during the quarter. Hennessy Advisors Inc.'s holdings in Coinbase Global were worth $1,154,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Yousif Capital Management LLC increased its holdings in shares of Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock worth $635,000 after buying an additional 44 shares during the last quarter. Empowered Funds LLC increased its stake in Coinbase Global by 31.5% during the fourth quarter. Empowered Funds LLC now owns 6,820 shares of the cryptocurrency exchange's stock worth $1,693,000 after acquiring an additional 1,635 shares during the last quarter. Stephens Inc. AR bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $261,000. Savant Capital LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $591,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Coinbase Global by 4.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,592 shares of the cryptocurrency exchange's stock worth $2,210,000 after purchasing an additional 356 shares during the period. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at $88,646.78. The trade was a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,717 shares of company stock worth $49,363,601. 17.65% of the stock is currently owned by insiders.

Coinbase Global Stock Up 7.8%

Shares of Coinbase Global stock traded up $18.86 on Monday, reaching $261.57. The stock had a trading volume of 11,909,923 shares, compared to its average volume of 10,120,265. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $66.41 billion, a P/E ratio of 27.53 and a beta of 3.61. The company has a 50 day moving average price of $221.16 and a 200 day moving average price of $240.88. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the company posted $2.53 earnings per share. The business's revenue for the quarter was up 24.2% on a year-over-year basis. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on COIN. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 price target on shares of Coinbase Global in a research report on Friday, May 9th. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a report on Monday, May 12th. Needham & Company LLC dropped their price target on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective on the stock. Finally, Piper Sandler boosted their target price on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $268.00.

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.