Interval Partners LP Takes Position in Coinbase Global, Inc. $COIN

Key Points

• Interval Partners LP invested approximately $1.19 million in Coinbase Global, purchasing 6,918 shares during the first quarter of the year.
• Analysts have given Coinbase Global various target prices, with recent estimates ranging from $365.00 to $510.00, indicating a general expectation of growth.
• Insider transactions have seen significant sales, with CEO Brian Armstrong selling 25,000 shares, representing a 97.94% decrease in his ownership of the stock.

Interval Partners LP purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,918 shares of the cryptocurrency exchange's stock, valued at approximately $1,191,000.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after acquiring an additional 9,952 shares in the last quarter. Amalgamated Bank lifted its holdings in Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock worth $2,368,000 after purchasing an additional 629 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock worth $193,000 after buying an additional 84 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Coinbase Global by 124.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock worth $453,000 after buying an additional 1,454 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Coinbase Global by 87.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock valued at $578,000 after purchasing an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,205,871 shares of company stock worth $447,047,776 in the last three months. Insiders own 23.43% of the company's stock.

Coinbase Global Trading Up 1.0%

Coinbase Global stock traded up $3.13 during midday trading on Monday, reaching $302.20. The stock had a trading volume of 8,810,822 shares, compared to its average volume of 8,414,406. The firm has a market cap of $77.65 billion, a price-to-earnings ratio of 29.23 and a beta of 3.68. The company has a fifty day moving average of $343.07 and a 200 day moving average of $264.75. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the business earned $0.14 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on COIN. Sanford C. Bernstein increased their price objective on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Monness Crespi & Hardt lowered Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen raised Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays lifted their target price on Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Finally, William Blair initiated coverage on Coinbase Global in a research note on Wednesday, June 11th. They issued an "outperform" rating for the company. Thirteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of "Hold" and a consensus price target of $352.72.

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.