HighPoint Advisor Group LLC Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

HighPoint Advisor Group LLC grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 163.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,559 shares of the cryptocurrency exchange's stock after buying an additional 4,072 shares during the quarter. HighPoint Advisor Group LLC's holdings in Coinbase Global were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in COIN. IPG Investment Advisors LLC boosted its stake in shares of Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock valued at $561,000 after purchasing an additional 45 shares during the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after acquiring an additional 47 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Coinbase Global by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock valued at $2,746,000 after purchasing an additional 55 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Coinbase Global by 2.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange's stock valued at $653,000 after purchasing an additional 60 shares during the period. Finally, Callan Capital LLC lifted its position in Coinbase Global by 5.1% in the 1st quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock valued at $215,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the completion of the sale, the insider owned 82,328 shares in the company, valued at approximately $28,702,833.92. This trade represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 3,000 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the completion of the sale, the chief financial officer owned 97,366 shares in the company, valued at approximately $35,071,233.20. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,245,915 shares of company stock valued at $447,462,456 in the last three months. 23.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research note on Friday, May 9th. China Renaissance started coverage on Coinbase Global in a research note on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price target on the stock. 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 report on Tuesday, May 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $320.06.

Coinbase Global Trading Down 2.2%

Shares of COIN stock traded down $9.19 on Tuesday, hitting $404.44. 14,502,651 shares of the company's stock traded hands, compared to its average volume of 11,112,726. The stock has a market capitalization of $102.68 billion, a price-to-earnings ratio of 58.92, a P/E/G ratio of 31.53 and a beta of 3.70. The company's fifty day simple moving average is $302.29 and its 200 day simple moving average is $251.26. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.65. 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 posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 earnings per share. Equities analysts forecast 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.