Oppenheimer & Co. Inc. Purchases 6,315 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Oppenheimer & Co. Inc. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 60.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,724 shares of the cryptocurrency exchange's stock after purchasing an additional 6,315 shares during the period. Oppenheimer & Co. Inc.'s holdings in Coinbase Global were worth $2,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the fourth quarter valued at about $25,000. Copia Wealth Management acquired a new position in Coinbase Global in the 4th quarter valued at approximately $26,000. Atala Financial Inc acquired a new position in Coinbase Global in the 4th quarter valued at approximately $27,000. NBT Bank N A NY bought a new stake in shares of Coinbase Global in the 1st quarter worth approximately $33,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $35,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC cut their target price on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Citigroup reissued a "buy" rating on shares of Coinbase Global in a report on Wednesday, June 25th. Oppenheimer restated an "outperform" rating and issued a $395.00 price objective (up previously from $293.00) on shares of Coinbase Global in a research note on Thursday. Monness Crespi & Hardt raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a research note on Tuesday, May 13th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $300.00 price target on shares of Coinbase Global in a research report on Monday, June 16th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $291.06.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 113,735 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $363.15, for a total value of $41,302,865.25. Following the completion of the sale, the chief executive officer owned 526 shares of the company's stock, valued at $191,016.90. This trade represents a 99.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the completion of the transaction, the chief financial officer owned 97,366 shares of the company's stock, valued at $35,071,233.20. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 665,915 shares of company stock worth $212,665,732. 23.43% of the stock is owned by insiders.

Coinbase Global Price Performance

Coinbase Global stock traded down $2.94 on Monday, reaching $350.49. The company's stock had a trading volume of 11,172,329 shares, compared to its average volume of 10,720,024. The business's fifty day moving average price is $253.18 and its 200 day moving average price is $241.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The company has a market cap of $88.98 billion, a price-to-earnings ratio of 65.63, a PEG ratio of 25.85 and a beta of 3.62. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 earnings per share. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.