Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 60.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,724 shares of the cryptocurrency exchange's stock after buying an additional 6,315 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Coinbase Global were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of COIN. Norges Bank purchased a new stake in Coinbase Global during the 4th quarter worth approximately $536,484,000. Groupama Asset Managment acquired a new position in shares of Coinbase Global in the fourth quarter worth $372,450,000. Proficio Capital Partners LLC increased its position in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after acquiring an additional 417,036 shares during the period. Two Sigma Advisers LP raised its stake in shares of Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after acquiring an additional 333,600 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after acquiring an additional 302,595 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN traded down $21.64 during mid-day trading on Friday, reaching $353.43. 28,945,154 shares of the company's stock were exchanged, compared to its average volume of 10,698,473. The stock has a market capitalization of $89.73 billion, a PE ratio of 66.19, a price-to-earnings-growth ratio of 25.99 and a beta of 3.61. The business's fifty day simple moving average is $246.10 and its 200-day simple moving average is $241.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS 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 business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the company posted $2.53 earnings per share. Coinbase Global's quarterly revenue was up 24.2% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of several analyst reports. JMP Securities reissued a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a research note on Wednesday. Monness Crespi & Hardt raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Tuesday, May 13th. Needham & Company LLC cut their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Oppenheimer reiterated an "outperform" rating and issued a $395.00 price target (up previously from $293.00) on shares of Coinbase Global in a research note on Thursday. Finally, Piper Sandler boosted 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. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $291.06.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 107,291 shares in the company, valued at $21,458,200. This represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 665,915 shares of company stock worth $212,665,732 in the last quarter. Company insiders own 17.65% of the company's stock.

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.