Sage Advisors LLC Invests $358,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Sage Advisors LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,078 shares of the cryptocurrency exchange's stock, valued at approximately $358,000. Coinbase Global comprises 0.3% of Sage Advisors LLC's investment portfolio, making the stock its 26th biggest holding.

Other institutional investors also recently made changes to their positions in the company. KCM Investment Advisors LLC bought a new position in Coinbase Global during the 4th quarter worth approximately $507,000. Kingswood Wealth Advisors LLC boosted its holdings 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 worth $453,000 after purchasing an additional 1,454 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Coinbase Global by 10.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock valued at $610,000 after purchasing an additional 232 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Coinbase Global by 87.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock worth $578,000 after purchasing an additional 1,561 shares during the period. Finally, Sowell Financial Services LLC bought a new position in shares of Coinbase Global in the 1st quarter worth about $243,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded up $19.12 on Wednesday, reaching $354.45. 12,436,051 shares of the company traded hands, compared to its average volume of 10,773,935. The stock has a market capitalization of $89.99 billion, a PE ratio of 66.38, a P/E/G ratio of 24.53 and a beta of 3.70. 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 company's 50 day moving average is $256.09 and its 200-day moving average is $241.87. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week 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 for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business earned $2.53 EPS. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Oppenheimer reiterated an "outperform" rating and set a $395.00 price objective (up previously from $293.00) on shares of Coinbase Global in a research note on Thursday, June 26th. Cantor Fitzgerald started coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective for the company. Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price on the stock in a research report on Monday, May 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $300.00 target price on shares of Coinbase Global in a research note on Monday, June 16th. Finally, Jefferies Financial Group restated a "hold" rating and set a $260.00 price target (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.06.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the transaction, the director owned 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. This represents a 99.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 665,915 shares of company stock worth $212,665,732. 17.65% of the stock is currently owned by insiders.

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.