Private Advisor Group LLC Purchases 14,691 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Private Advisor Group LLC increased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 78.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,308 shares of the cryptocurrency exchange's stock after acquiring an additional 14,691 shares during the quarter. Private Advisor Group LLC's holdings in Coinbase Global were worth $5,737,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of COIN. Amalgamated Bank boosted its position in shares of Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after acquiring an additional 629 shares in the last quarter. KCM Investment Advisors LLC acquired a new stake in shares of Coinbase Global during the 4th quarter valued at about $507,000. GAMMA Investing LLC boosted its position in Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after buying an additional 84 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in Coinbase Global by 124.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock valued at $453,000 after buying an additional 1,454 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Coinbase Global by 10.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock valued at $610,000 after buying an additional 232 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 198,300 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at $209,279.62. The trade was a 99.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the transaction, the insider owned 82,328 shares of the company's stock, valued at approximately $28,702,833.92. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,245,915 shares of company stock worth $447,462,456 over the last ninety days. Company insiders own 23.43% of the company's stock.

Coinbase Global Trading Down 2.2%

Shares of NASDAQ COIN traded down $9.19 during midday trading on Tuesday, reaching $404.44. 14,502,651 shares of the stock were exchanged, compared to its average volume of 11,112,726. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The business has a 50-day simple moving average of $302.29 and a two-hundred day simple moving average of $251.26. The company has a market capitalization of $102.68 billion, a price-to-earnings ratio of 58.92, a P/E/G ratio of 31.53 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued 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 20.25% and a net margin of 21.14%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the business earned $2.53 earnings per share. The company's revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JMP Securities boosted their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Oppenheimer boosted their price target on shares of Coinbase Global from $395.00 to $417.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target on the stock. Needham & Company LLC reduced their price target on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, HC Wainwright restated a "sell" rating and issued a $300.00 price target (down from $305.00) on shares of Coinbase Global in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $320.06.

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.