1,508 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,508 shares of the cryptocurrency exchange's stock, valued at approximately $260,000.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange's stock worth $4,573,462,000 after buying an additional 128,802 shares during the period. Geode Capital Management LLC lifted its holdings in Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock worth $882,822,000 after buying an additional 127,075 shares during the period. Norges Bank purchased a new stake in Coinbase Global in the fourth quarter worth about $536,484,000. Groupama Asset Managment purchased a new stake in Coinbase Global in the fourth quarter worth about $372,450,000. Finally, Northern Trust Corp lifted its holdings in Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock worth $321,488,000 after buying an additional 218,400 shares during the period. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN traded down $5.04 during trading on Friday, reaching $391.66. 8,619,904 shares of the company traded hands, compared to its average volume of 13,896,728. The firm has a 50 day simple moving average of $317.61 and a 200-day simple moving average of $255.92. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $99.43 billion, a PE ratio of 73.34, a P/E/G ratio of 29.86 and a beta of 3.70. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64.

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

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total value of $3,486,400.00. Following the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $28,702,833.92. This trade represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,208,340 shares of company stock valued at $439,997,456 in the last quarter. 17.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective for the company. Barclays upped their price objective on shares of Coinbase Global from $202.00 to $359.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. China Renaissance started coverage on shares of Coinbase Global in a report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global presently has a consensus rating of "Moderate Buy" and an average 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.