Parallel Advisors LLC Buys 2,170 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Parallel Advisors LLC raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 70.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,263 shares of the cryptocurrency exchange's stock after acquiring an additional 2,170 shares during the period. Parallel Advisors LLC's holdings in Coinbase Global were worth $906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COIN. Hantz Financial Services Inc. raised its position in shares of Coinbase Global by 175.8% during the 4th quarter. Hantz Financial Services Inc. now owns 684 shares of the cryptocurrency exchange's stock valued at $170,000 after acquiring an additional 436 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Coinbase Global during the 4th quarter valued at $2,525,000. Waldron Private Wealth LLC raised its position in shares of Coinbase Global by 6.5% during the 4th quarter. Waldron Private Wealth LLC now owns 2,557 shares of the cryptocurrency exchange's stock valued at $635,000 after acquiring an additional 155 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at $301,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Coinbase Global during the 4th quarter valued at $1,149,000. Institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,226.90. This trade represents a 95.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were 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 114,866 shares of the company's stock, valued at $22,973,200. This trade represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,717 shares of company stock worth $42,980,101. Insiders own 17.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on COIN. Barclays upped their price objective 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. Piper Sandler upped their price objective 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. Bank of America lowered their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. The Goldman Sachs Group upped their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Coinbase Global has a consensus rating of "Moderate Buy" and a consensus price target of $266.10.

Coinbase Global Stock Down 4.6%

Shares of Coinbase Global stock traded down $11.80 during trading hours on Thursday, reaching $244.20. 11,955,459 shares of the company's stock were exchanged, compared to its average volume of 10,156,741. The company has a 50 day moving average of $211.17 and a two-hundred day moving average of $244.28. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $62.00 billion, a P/E ratio of 25.71 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company earned $2.53 earnings per share. The company's quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.