Wealthquest Corp bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,018 shares of the cryptocurrency exchange's stock, valued at approximately $864,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $25,000. Copia Wealth Management acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $26,000. Atala Financial Inc acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $27,000. NBT Bank N A NY acquired a new stake in Coinbase Global in the 1st quarter valued at approximately $33,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.84% of the company's stock.
Analyst Ratings Changes
A number of research analysts have weighed in on COIN shares. Monness Crespi & Hardt upgraded Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a research note on Tuesday, May 13th. JMP Securities restated a "market outperform" rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $395.00 target price (up from $293.00) on shares of Coinbase Global in a research note on Thursday. William Blair initiated coverage on Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating for the company. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $260.00 target price (up from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $291.06.
Check Out Our Latest Report on Coinbase Global
Coinbase Global Price Performance
COIN traded up $19.70 on Thursday, reaching $375.07. The stock had a trading volume of 27,258,011 shares, compared to its average volume of 10,625,470. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $381.60. The firm has a 50-day moving average of $242.10 and a 200-day moving average of $241.14. 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 company has a market capitalization of $95.22 billion, a price-to-earnings ratio of 70.24, a price-to-earnings-growth ratio of 25.22 and a beta of 3.61.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (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 firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the company earned $2.53 EPS. Coinbase Global's revenue for the quarter was up 24.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.
Insiders Place Their Bets
In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $88,646.78. This represents a 96.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 1,952 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $280.02, for a total value of $546,599.04. Following the completion of the transaction, the insider now directly owns 82,328 shares of the company's stock, valued at approximately $23,053,486.56. The trade was a 2.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 212,915 shares of company stock valued at $48,349,215 in the last 90 days. Corporate insiders own 17.65% of the company's stock.
About Coinbase Global
(
Free Report)
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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