Welch Group LLC Purchases Shares of 1,000 Coinbase Global, Inc. (NASDAQ:COIN)

Welch Group LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,000 shares of the cryptocurrency exchange’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. Barrett & Company Inc. acquired a new position in Coinbase Global in the fourth quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Mather Group LLC. acquired a new position in shares of Coinbase Global during the first quarter worth approximately $32,000. AlphaMark Advisors LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $33,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $39,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Jennifer N. Jones sold 15,580 shares of Coinbase Global stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now owns 2,212 shares of the company’s stock, valued at approximately $529,287.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Jennifer N. Jones sold 15,580 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the completion of the sale, the chief accounting officer now owns 2,212 shares in the company, valued at approximately $529,287.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $246.16, for a total transaction of $369,240.00. Following the sale, the chief operating officer now owns 207,471 shares of the company’s stock, valued at approximately $51,071,061.36. The disclosure for this sale can be found here. Insiders sold a total of 378,158 shares of company stock valued at $86,182,160 in the last quarter. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 0.4 %

Shares of COIN stock opened at $235.03 on Friday. The firm has a fifty day moving average of $228.46 and a 200-day moving average of $197.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 12-month low of $55.10 and a 12-month high of $283.48. The company has a market capitalization of $57.72 billion, a price-to-earnings ratio of 46.91 and a beta of 3.44.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. As a group, equities research analysts predict that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Sanford C. Bernstein upped their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Bank of America upgraded shares of Coinbase Global from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $217.00 in a report on Friday, May 17th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Wednesday, June 5th. JPMorgan Chase & Co. increased their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Oppenheimer increased their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $215.50.

About Coinbase Global

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.