Laurion Capital Management LP Invests $834,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Laurion Capital Management LP purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,360 shares of the cryptocurrency exchange's stock, valued at approximately $834,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Principal Financial Group Inc. lifted its holdings in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after acquiring an additional 36,843 shares in the last quarter. First Hawaiian Bank bought a new position in Coinbase Global during the fourth quarter worth about $327,000. Fiduciary Alliance LLC lifted its holdings in Coinbase Global by 19.5% during the fourth quarter. Fiduciary Alliance LLC now owns 11,453 shares of the cryptocurrency exchange's stock worth $2,844,000 after acquiring an additional 1,872 shares in the last quarter. Wedmont Private Capital lifted its holdings in Coinbase Global by 21.9% during the fourth quarter. Wedmont Private Capital now owns 1,766 shares of the cryptocurrency exchange's stock worth $457,000 after acquiring an additional 317 shares in the last quarter. Finally, Cadent Capital Advisors LLC bought a new stake in shares of Coinbase Global in the fourth quarter valued at about $686,000. 68.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $144,786.76. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,978 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,742 shares of company stock valued at $32,639,759 over the last 90 days. 17.65% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $199.47 on Monday. The business's 50 day moving average price is $187.38 and its two-hundred day moving average price is $243.30. The company has a market cap of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion for 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 quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the firm earned $2.53 EPS. On average, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on COIN shares. Oppenheimer cut their price target on Coinbase Global from $279.00 to $269.00 and set an "outperform" rating on the stock in a report on Friday. Citigroup restated a "neutral" rating on shares of Coinbase Global in a report on Thursday. Compass Point restated a "sell" rating and issued a $180.00 price target on shares of Coinbase Global in a report on Monday, April 28th. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday. Finally, Benchmark started coverage on Coinbase Global in a report on Wednesday, April 23rd. They issued a "buy" rating and a $252.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and a consensus target price of $268.65.

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.

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