Silver Oak Securities Incorporated Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Silver Oak Securities Incorporated acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,461 shares of the cryptocurrency exchange's stock, valued at approximately $254,000.

Several other large investors also recently added to or reduced their stakes in COIN. Well Done LLC purchased a new position in Coinbase Global during the first quarter valued at approximately $169,000. Cadent Capital Advisors LLC increased its stake in shares of Coinbase Global by 13.4% during the 1st quarter. Cadent Capital Advisors LLC now owns 3,132 shares of the cryptocurrency exchange's stock worth $539,000 after purchasing an additional 370 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Coinbase Global by 124.5% during the 1st 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 last quarter. Wolf Group Capital Advisors bought a new position in shares of Coinbase Global during the 1st quarter valued at $734,000. Finally, Rakuten Securities Inc. boosted its holdings in Coinbase Global by 239.6% in the first quarter. Rakuten Securities Inc. now owns 59,977 shares of the cryptocurrency exchange's stock worth $10,330,000 after purchasing an additional 42,318 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 12,931 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $267.29, for a total value of $3,456,326.99. Following the sale, the insider now owns 84,280 shares in the company, valued at approximately $22,527,201.20. The trade was a 13.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction dated Monday, March 24th. The stock was 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 directly owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 228,538 shares of company stock worth $51,299,116 over the last quarter. Company insiders own 17.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on COIN shares. JPMorgan Chase & Co. lowered their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. China Renaissance started coverage on shares of Coinbase Global in a report on Tuesday. They set a "buy" rating and a $353.30 price objective for the company. Bank of America lowered their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of "Moderate Buy" and a consensus price target of $271.88.

Coinbase Global Stock Performance

COIN stock traded up $13.09 during midday trading on Friday, hitting $308.38. The stock had a trading volume of 31,406,937 shares, compared to its average volume of 10,349,426. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The stock has a 50-day simple moving average of $232.43 and a 200 day simple moving average of $240.43. The firm has a market capitalization of $78.29 billion, a price-to-earnings ratio of 57.75, a P/E/G ratio of 22.47 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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 business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the business posted $2.53 earnings per share. Coinbase Global's revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.