Oak Ridge Investments LLC Buys Shares of 2,086 Coinbase Global, Inc. (NASDAQ:COIN)

Oak Ridge Investments LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,086 shares of the cryptocurrency exchange's stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Vanguard Group Inc. grew its holdings in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after buying an additional 875,359 shares during the last quarter. Nuveen LLC acquired a new stake in Coinbase Global in the 1st quarter valued at approximately $83,454,000. Two Sigma Advisers LP grew its holdings in Coinbase Global by 445.4% in the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares during the last quarter. Wellington Management Group LLP grew its holdings in Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Coinbase Global by 29.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange's stock valued at $243,118,000 after buying an additional 222,789 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Trading Down 0.6%

Shares of COIN opened at $324.89 on Friday. The stock has a fifty day moving average price of $338.64 and a two-hundred day moving average price of $261.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. 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 $83.48 billion, a price-to-earnings ratio of 31.42 and a beta of 3.70.

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 during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. The trade was a 99.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,185,704 shares of company stock valued at $438,918,732. Insiders own 17.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COIN. Jefferies Financial Group lifted their price objective on Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. HC Wainwright reissued a "sell" rating and set a $300.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Compass Point reissued a "sell" rating and set a $248.00 price objective (down previously from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Williams Trading set a $405.00 price objective on Coinbase Global in a report on Thursday, July 31st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $470.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $352.18.

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.

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