Vantage Financial Partners LLC Invests $218,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Vantage Financial Partners LLC has acquired 1,266 shares of Coinbase Global, valued at approximately $218,000, in the first quarter.
• Insider Paul Grewal sold 10,000 shares for about $3.49 million, while CEO Brian Armstrong sold 198,300 shares valued at roughly $78.9 million, significantly reducing their holdings.
• Analysts have mixed ratings for Coinbase, with one sell rating, eleven hold ratings, and thirteen buy ratings, while recent price targets range from $300 to $470.

Vantage Financial Partners LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,266 shares of the cryptocurrency exchange's stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bryce Point Capital LLC raised its holdings in Coinbase Global by 195.5% in the first quarter. Bryce Point Capital LLC now owns 5,605 shares of the cryptocurrency exchange's stock valued at $965,000 after acquiring an additional 3,708 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Coinbase Global during the first quarter worth approximately $185,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Coinbase Global by 15.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,151 shares of the cryptocurrency exchange's stock worth $16,732,000 after acquiring an additional 13,146 shares during the last quarter. ARK Investment Management LLC grew its position in Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock valued at $528,592,000 after buying an additional 34,462 shares during the last quarter. Finally, Brown Wealth Management LLC grew its position in Coinbase Global by 470.2% in the 1st quarter. Brown Wealth Management LLC now owns 5,166 shares of the cryptocurrency exchange's stock valued at $890,000 after buying an additional 4,260 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the transaction, the director owned 10,417 shares of the company's stock, valued at $2,632,167.56. This represents a 74.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,208,340 shares of company stock valued at $439,997,456. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Price Performance

COIN stock traded down $60.36 during trading on Friday, hitting $317.40. The stock had a trading volume of 20,913,117 shares, compared to its average volume of 11,481,335. The company's 50 day moving average price is $326.60 and its two-hundred day moving average price is $259.23. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The stock has a market cap of $80.58 billion, a price-to-earnings ratio of 59.56, a price-to-earnings-growth ratio of 26.30 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $5.14 earnings per share for the quarter, beating the consensus estimate of $0.91 by $4.23. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. 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 posted $0.14 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

COIN has been the topic of several research analyst reports. Erste Group Bank initiated coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They set a "buy" rating on the stock. Monness Crespi & Hardt lowered shares of Coinbase Global from a "buy" rating to a "neutral" rating in a research report on Monday. Canaccord Genuity Group restated a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, HC Wainwright restated a "sell" rating and set a $300.00 target price on shares of Coinbase Global in a research report on Friday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $344.55.

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.