Global Assets Advisory LLC Purchases New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Global Assets Advisory LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 77,902 shares of the cryptocurrency exchange’s stock, valued at approximately $20,653,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COIN. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $26,000. Creekmur Asset Management LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $27,000. Mather Group LLC. acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $32,000. AlphaMark Advisors LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $33,000. Finally, Signature Resources Capital Management LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the transaction, the chief operating officer now directly owns 207,471 shares of the company’s stock, valued at $51,071,061.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the sale, the chief operating officer now owns 207,471 shares in the company, valued at $51,071,061.36. The disclosure for this sale can be found here. Insiders sold a total of 351,521 shares of company stock valued at $78,851,322 in the last quarter. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 6.0 %

Shares of COIN stock opened at $212.31 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 1 year low of $61.00 and a 1 year high of $283.48. The firm’s fifty day simple moving average is $227.28 and its 200 day simple moving average is $200.03. The firm has a market capitalization of $52.14 billion, a P/E ratio of 42.38 and a beta of 3.44.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COIN. Bank of America raised shares of Coinbase Global from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $110.00 to $217.00 in a research note on Friday, May 17th. The Goldman Sachs Group lowered their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Barclays raised their price objective on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. Wedbush boosted their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Oppenheimer raised their price target 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 analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Hold” and an average target price of $215.50.

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.