Los Angeles Capital Management LLC Purchases 33,717 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Los Angeles Capital Management LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 3,893.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,583 shares of the cryptocurrency exchange's stock after purchasing an additional 33,717 shares during the period. Los Angeles Capital Management LLC's holdings in Coinbase Global were worth $5,956,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COIN. Proficio Capital Partners LLC boosted its holdings in shares of Coinbase Global by 23.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock worth $418,000 after purchasing an additional 325 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Coinbase Global by 10.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock worth $610,000 after purchasing an additional 232 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Coinbase Global by 7.3% during the fourth quarter. Corient Private Wealth LLC now owns 10,042 shares of the cryptocurrency exchange's stock worth $2,493,000 after purchasing an additional 686 shares during the period. Sei Investments Co. boosted its holdings in shares of Coinbase Global by 44.9% during the fourth quarter. Sei Investments Co. now owns 20,938 shares of the cryptocurrency exchange's stock worth $5,200,000 after purchasing an additional 6,488 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $16,164,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on COIN shares. China Renaissance started coverage on shares of Coinbase Global in a research note on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price target for the company. The Goldman Sachs Group increased their price target on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target for the company. Canaccord Genuity Group reissued a "buy" rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, May 9th. Finally, Barclays increased 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $320.06.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the transaction, the chief financial officer owned 97,366 shares in the company, valued at $35,071,233.20. This trade represents a 2.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on 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 transaction, the insider owned 82,328 shares in the company, valued at $28,702,833.92. This represents a 10.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,245,915 shares of company stock worth $447,462,456. Insiders own 23.43% of the company's stock.

Coinbase Global Stock Performance

NASDAQ:COIN traded down $9.19 during trading hours on Tuesday, reaching $404.44. The company had a trading volume of 14,502,651 shares, compared to its average volume of 11,112,726. The firm has a market cap of $102.68 billion, a price-to-earnings ratio of 58.92, a PEG ratio of 31.53 and a beta of 3.70. 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 price is $302.29 and its 200-day moving average price is $251.26. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.65.

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

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.