Mayflower Financial Advisors LLC Invests $289,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Mayflower Financial Advisors LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,679 shares of the cryptocurrency exchange's stock, valued at approximately $289,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of COIN. Norges Bank bought a new position in shares of Coinbase Global during the 4th quarter worth about $536,484,000. Groupama Asset Managment bought a new position in shares of Coinbase Global during the 4th quarter worth about $372,450,000. Two Sigma Advisers LP lifted its holdings in shares of Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after acquiring an additional 333,600 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock worth $81,612,000 after acquiring an additional 302,595 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock worth $85,253,000 after acquiring an additional 295,313 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Benchmark raised their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a report on Monday, July 7th. Citigroup reissued an "outperform" rating on shares of Coinbase Global in a report on Monday, July 14th. Jefferies Financial Group reissued a "hold" rating and set a $260.00 price target (up from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus price target of $313.10.

Coinbase Global Stock Up 2.2%

COIN traded up $9.03 during trading hours on Friday, hitting $419.78. 27,962,527 shares of the company's stock were exchanged, compared to its average volume of 11,081,572. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.65. The stock's 50-day moving average is $302.29 and its two-hundred day moving average is $251.28. The stock has a market cap of $106.57 billion, a price-to-earnings ratio of 78.61, a PEG ratio of 31.31 and a beta of 3.70. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40.

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

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction dated 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 $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,245,915 shares of company stock worth $447,462,456. Corporate insiders own 17.65% 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.