Patient Capital Management LLC Boosts Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Patient Capital Management LLC grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,401 shares of the cryptocurrency exchange's stock after acquiring an additional 26,569 shares during the quarter. Coinbase Global comprises 2.3% of Patient Capital Management LLC's investment portfolio, making the stock its 25th largest position. Patient Capital Management LLC owned about 0.08% of Coinbase Global worth $50,504,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Coinbase Global during the 4th quarter valued at about $252,000. Savant Capital LLC purchased a new position in shares of Coinbase Global during the 4th quarter valued at about $591,000. Principal Financial Group Inc. raised its holdings in shares of Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after buying an additional 36,843 shares in the last quarter. Sara Bay Financial purchased a new position in shares of Coinbase Global during the 4th quarter valued at about $230,000. Finally, Oxinas Partners Wealth Management LLC purchased a new position in shares of Coinbase Global during the 4th quarter valued at about $265,000. Institutional investors own 68.84% of the company's stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 1,952 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total value of $488,000.00. Following the sale, the insider now directly owns 81,773 shares of the company's stock, valued at approximately $20,443,250. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 15,000 shares of the business's stock in a transaction on 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 168,764 shares of company stock valued at $35,671,592. 17.65% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Up 9.0%

Shares of NASDAQ COIN traded up $22.02 during mid-day trading on Friday, hitting $266.46. 72,432,540 shares of the stock traded hands, compared to its average volume of 10,164,986. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a fifty day moving average price of $191.65 and a 200-day moving average price of $244.07. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a market cap of $67.65 billion, a price-to-earnings ratio of 28.05 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its 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). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted $2.53 earnings per share. The company's revenue was up 24.2% compared to the same quarter last year. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COIN. Canaccord Genuity Group reissued a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Cantor Fitzgerald initiated coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target on the stock. Piper Sandler lifted their price target on Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Citigroup reaffirmed a "neutral" rating on shares of Coinbase Global in a research note on Thursday, May 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research note on Friday, May 9th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $265.20.

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.