First Trust Direct Indexing L.P. Acquires 790 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

First Trust Direct Indexing L.P. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 26.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,817 shares of the cryptocurrency exchange’s stock after buying an additional 790 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Coinbase Global were worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Coinbase Global during the 4th quarter worth about $202,936,000. a16z Perennial Management L.P. bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $147,646,000. Morgan Stanley raised its position in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the period. Hamilton Lane Advisors LLC bought a new stake in Coinbase Global during the 4th quarter worth approximately $88,015,000. Finally, APEIRON CAPITAL Ltd purchased a new stake in shares of Coinbase Global in the first quarter worth approximately $108,434,000. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total transaction of $293,850.00. Following the completion of the sale, the chief operating officer now directly owns 204,436 shares in the company, valued at approximately $40,049,012.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total transaction of $293,850.00. Following the transaction, the chief operating officer now owns 204,436 shares in the company, valued at approximately $40,049,012.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 4,200 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now owns 192,622 shares of the company’s stock, valued at approximately $47,681,649.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 330,516 shares of company stock worth $73,051,856. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COIN. HC Wainwright reiterated a “buy” rating and set a $315.00 price target on shares of Coinbase Global in a report on Tuesday, June 18th. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Barclays increased their price objective on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Friday, May 3rd. Finally, Wedbush increased their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $215.50.

Coinbase Global Stock Performance

NASDAQ COIN opened at $224.94 on Friday. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 44.90 and a beta of 3.40. The company has a 50-day simple moving average of $227.71 and a two-hundred day simple moving average of $203.62. 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 $69.63 and a 12-month high of $283.48.

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

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.