Sloy Dahl & Holst LLC Has $16.21 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Sloy Dahl & Holst LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 53.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,091 shares of the cryptocurrency exchange's stock after purchasing an additional 32,598 shares during the period. Coinbase Global accounts for approximately 2.8% of Sloy Dahl & Holst LLC's holdings, making the stock its 5th biggest position. Sloy Dahl & Holst LLC's holdings in Coinbase Global were worth $16,205,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in COIN. Savvy Advisors Inc. lifted its holdings in shares of Coinbase Global by 51.8% in the first quarter. Savvy Advisors Inc. now owns 3,351 shares of the cryptocurrency exchange's stock valued at $577,000 after buying an additional 1,144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Coinbase Global by 8.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,843 shares of the cryptocurrency exchange's stock valued at $28,735,000 after acquiring an additional 12,495 shares during the period. Accuvest Global Advisors acquired a new position in Coinbase Global in the 1st quarter worth approximately $306,000. Beacon Harbor Wealth Advisors Inc. acquired a new position in Coinbase Global in the 1st quarter worth approximately $5,499,000. Finally, Headlands Technologies LLC purchased a new position in Coinbase Global during the 1st quarter worth approximately $1,294,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COIN shares. William Blair began coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They set an "outperform" rating on the stock. Citigroup boosted their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Needham & Company LLC increased their price objective on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 1st. Jefferies Financial Group upped their target price on Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Finally, Compass Point reissued a "sell" rating and issued a $248.00 price target (down previously from $330.00) on shares of Coinbase Global in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $352.18.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the sale, the director owned 10,417 shares in the company, valued at $2,632,167.56. This represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,208,340 shares of company stock worth $442,911,206 over the last three months. 17.65% of the stock is owned by insiders.

Coinbase Global Stock Performance

NASDAQ COIN opened at $310.79 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $331.59 and a 200 day simple moving average of $260.21. The company has a market cap of $78.90 billion, a P/E ratio of 30.06, a PEG ratio of 26.26 and a beta of 3.70. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The business's revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Coinbase Global 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.

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