Stablepoint Partners LLC Has $1.14 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Stablepoint Partners LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 30.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,633 shares of the cryptocurrency exchange's stock after selling 2,857 shares during the period. Stablepoint Partners LLC's holdings in Coinbase Global were worth $1,142,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of COIN. Mascagni Wealth Management Inc. bought a new stake in Coinbase Global during the fourth quarter worth about $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $35,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a report on Thursday, May 15th. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $400.00 target price on shares of Coinbase Global in a report on Thursday, May 8th. Rosenblatt Securities reiterated a "buy" rating and set a $260.00 price target on shares of Coinbase Global in a report on Monday, May 12th. Finally, Cantor Fitzgerald began coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $266.10.

Coinbase Global Stock Up 2.9%

COIN opened at $251.27 on Friday. The stock has a fifty day moving average of $212.70 and a 200-day moving average of $243.78. The company has a market capitalization of $63.79 billion, a P/E ratio of 26.45 and a beta of 3.61. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 EPS. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction 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 sale, the director now directly owns 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total value of $1,981,200.00. Following the completion of the transaction, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,717 shares of company stock worth $42,980,101. Corporate insiders own 17.65% of the company's stock.

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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