Strategic Planning Group LLC Buys 1,469 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Strategic Planning Group LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 12.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,297 shares of the cryptocurrency exchange's stock after acquiring an additional 1,469 shares during the quarter. Strategic Planning Group LLC's holdings in Coinbase Global were worth $2,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. grew its stake in Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange's stock valued at $66,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after buying an additional 40 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange's stock worth $635,000 after buying an additional 44 shares during the last quarter. IPG Investment Advisors LLC increased its position in shares of Coinbase Global by 2.0% during the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock worth $561,000 after purchasing an additional 45 shares in the last quarter. Finally, Vivaldi Capital Management LP raised its stake in Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after buying an additional 47 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Down 4.6%

Coinbase Global stock traded down $11.80 during midday trading on Thursday, reaching $244.20. The stock had a trading volume of 11,955,459 shares, compared to its average volume of 10,153,616. The stock has a market capitalization of $62.00 billion, a P/E ratio of 25.71 and a beta of 3.61. The firm's fifty day simple moving average is $209.73 and its 200-day simple moving average is $244.84. 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, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75.

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

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were 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 $22,973,200. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the sale, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 195,717 shares of company stock valued at $42,980,101. 17.65% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JMP Securities reissued a "market outperform" rating and set a $400.00 price target on shares of Coinbase Global in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Oppenheimer set a $293.00 target price on Coinbase Global in a report on Thursday, May 15th. Cantor Fitzgerald began coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective for the company. Finally, Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a report on Tuesday, March 18th. Eleven equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

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.