Impact Partnership Wealth LLC Purchases 2,306 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Impact Partnership Wealth LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 118.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,248 shares of the cryptocurrency exchange's stock after acquiring an additional 2,306 shares during the period. Impact Partnership Wealth LLC's holdings in Coinbase Global were worth $732,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Mascagni Wealth Management Inc. purchased a new position in Coinbase Global in the fourth quarter worth about $25,000. Copia Wealth Management purchased a new position in Coinbase Global in the fourth quarter worth about $26,000. Bessemer Group Inc. raised its holdings in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after buying an additional 113 shares during the last quarter. NBT Bank N A NY purchased a new position in Coinbase Global in the first quarter worth about $33,000. Finally, Berbice Capital Management LLC purchased a new position in Coinbase Global in the first quarter worth about $34,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company'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 owned 10,417 shares in the company, valued at approximately $2,632,167.56. This represents a 74.33% 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, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares of the company's stock, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,245,915 shares of company stock valued at $447,462,456. 17.65% of the stock is owned by company insiders.

Coinbase Global Price Performance

Coinbase Global stock traded up $9.03 during mid-day trading on Friday, hitting $419.78. The stock had a trading volume of 27,962,527 shares, compared to its average volume of 11,075,868. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average is $302.29 and its 200 day moving average is $251.31. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.65. The firm has a market capitalization of $106.57 billion, a P/E ratio of 78.61, a P/E/G ratio of 32.00 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results 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 return on equity of 20.25% and a net margin of 21.14%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company posted $2.53 EPS. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on COIN. JMP Securities lifted their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Barclays lifted their price target on shares of Coinbase Global from $202.00 to $359.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Benchmark lifted their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Sanford C. Bernstein lifted their price target 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. Finally, William Blair initiated coverage on shares of Coinbase Global in a research note on Wednesday, June 11th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $313.10.

About Coinbase Global

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.