Inspire Investing LLC Buys 745 Shares of Coinbase Global, Inc. $COIN

Key Points

• Inspire Investing LLC significantly increased its stake in Coinbase Global, Inc. by 71.4%, now holding 1,789 shares valued at approximately $308,000.
• Several hedge funds, including Groupama Asset Management and Vanguard Group, have also increased their stakes, indicating strong institutional interest in Coinbase.
• Coinbase posted $0.12 EPS in its last quarterly earnings report, missing expectations, while revenue showed a modest increase of 3.3% year-over-year.

Inspire Investing LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 71.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,789 shares of the cryptocurrency exchange's stock after purchasing an additional 745 shares during the quarter. Inspire Investing LLC's holdings in Coinbase Global were worth $308,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in Coinbase Global during the fourth quarter valued at about $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the 4th quarter valued at about $26,000. Bessemer Group Inc. boosted its position in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the 1st quarter worth approximately $30,000. Finally, S Bank Fund Management Ltd bought a new stake in shares of Coinbase Global in the 1st quarter worth approximately $31,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on COIN shares. Jefferies Financial Group raised their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Canaccord Genuity Group reissued a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Williams Trading set a $405.00 target price on Coinbase Global in a report on Thursday, July 31st. China Renaissance started coverage on Coinbase Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price on the stock. Finally, Mizuho set a $300.00 price target on Coinbase Global in a research report on Thursday. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $356.18.

Coinbase Global Stock Down 3.1%

Coinbase Global stock traded down $10.51 during mid-day trading on Monday, hitting $331.95. The company's stock had a trading volume of 8,694,083 shares, compared to its average volume of 8,040,793. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a market cap of $85.29 billion, a PE ratio of 32.10 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm's 50 day moving average is $335.42 and its 200 day moving average is $272.61.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued 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). The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $322.28, for a total value of $8,057,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $169,519.28. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,756 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total transaction of $527,713.12. The disclosure for this sale can be found here. Insiders sold 1,202,515 shares of company stock worth $448,306,941 over the last quarter. Insiders own 23.43% of the company's stock.

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.