OneDigital Investment Advisors LLC Purchases 796 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

OneDigital Investment Advisors LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 47.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,488 shares of the cryptocurrency exchange's stock after buying an additional 796 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Coinbase Global were worth $429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global during the 4th quarter valued at $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the 4th quarter valued at $26,000. Atala Financial Inc bought a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global during the 4th quarter valued at $35,000. Finally, Brooklands Fund Management Ltd bought a new position in shares of Coinbase Global during the 4th quarter valued at $37,245,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the sale, the insider owned 82,328 shares of the company's stock, valued at $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $338.29, for a total transaction of $8,457,250.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $177,940.54. The trade was a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 685,915 shares of company stock valued at $222,081,432 over the last quarter. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Trading Down 0.5%

Shares of COIN traded down $1.90 during trading hours on Friday, reaching $387.06. 16,560,793 shares of the company traded hands, compared to its average volume of 10,940,417. The company's fifty day moving average price is $282.06 and its two-hundred day moving average price is $246.32. The company has a market capitalization of $98.27 billion, a price-to-earnings ratio of 72.48, a price-to-earnings-growth ratio of 28.35 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, Inc. has a 12 month low of $142.58 and a 12 month high of $395.50.

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). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $2.53 EPS. The company's revenue for the quarter was up 24.2% on a year-over-year basis. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on COIN. JMP Securities reaffirmed a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a report on Wednesday, June 25th. JPMorgan Chase & Co. reduced their target price on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and issued a $300.00 price target on shares of Coinbase Global in a report on Monday, June 16th. Finally, Piper Sandler raised their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating 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 twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $298.60.

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.