Pacific Point Advisors LLC Invests $344,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Pacific Point Advisors LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,000 shares of the cryptocurrency exchange's stock, valued at approximately $344,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Callan Capital LLC increased its stake in shares of Coinbase Global by 5.1% during the first quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock valued at $215,000 after purchasing an additional 61 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Coinbase Global by 38.5% during the first quarter. TD Private Client Wealth LLC now owns 611 shares of the cryptocurrency exchange's stock valued at $105,000 after purchasing an additional 170 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Coinbase Global by 73.1% during the first quarter. Hexagon Capital Partners LLC now owns 708 shares of the cryptocurrency exchange's stock valued at $122,000 after purchasing an additional 299 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of Coinbase Global by 18.6% during the first quarter. Penserra Capital Management LLC now owns 56,231 shares of the cryptocurrency exchange's stock valued at $9,684,000 after purchasing an additional 8,813 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 0.4%

Coinbase Global stock traded up $1.30 during midday trading on Monday, reaching $357.10. The stock had a trading volume of 7,867,122 shares, compared to its average volume of 10,778,698. 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 52-week low of $142.58 and a 52-week high of $382.00. The firm has a market cap of $90.66 billion, a price-to-earnings ratio of 66.87, a price-to-earnings-growth ratio of 26.03 and a beta of 3.70. The company has a fifty day moving average of $265.23 and a 200 day moving average of $242.75.

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

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on 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 transaction, the insider directly owned 82,328 shares of the company's stock, valued at $28,702,833.92. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $177,940.54. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 685,915 shares of company stock valued at $222,081,432 in the last ninety days. 17.65% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on COIN shares. JMP Securities reaffirmed a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a research report on Friday, May 9th. Needham & Company LLC reduced their price target on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Piper Sandler raised their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Barclays raised their price target on shares of Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $293.74.

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.