Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Intellectus Partners LLC

by · The Markets Daily

Intellectus Partners LLC increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 24.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,905 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,150 shares during the period. Intellectus Partners LLC’s holdings in Coinbase Global were worth $1,017,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Generali Investments Management Co LLC acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $195,000. Strategic Planning Group LLC boosted its stake in Coinbase Global by 12.4% during the 1st quarter. Strategic Planning Group LLC now owns 13,297 shares of the cryptocurrency exchange’s stock valued at $2,290,000 after purchasing an additional 1,469 shares during the period. Smith Anglin Financial LLC boosted its stake in Coinbase Global by 12.4% during the 1st quarter. Smith Anglin Financial LLC now owns 2,597 shares of the cryptocurrency exchange’s stock valued at $447,000 after purchasing an additional 286 shares during the period. Merit Financial Group LLC boosted its stake in Coinbase Global by 50.2% during the 1st quarter. Merit Financial Group LLC now owns 1,949 shares of the cryptocurrency exchange’s stock valued at $336,000 after purchasing an additional 651 shares during the period. Finally, Fiduciary Alliance LLC boosted its position in shares of Coinbase Global by 17.6% during the first quarter. Fiduciary Alliance LLC now owns 13,467 shares of the cryptocurrency exchange’s stock worth $2,319,000 after buying an additional 2,014 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 4.6%

Shares of COIN stock opened at $244.20 on Friday. The firm’s fifty day simple moving average is $211.17 and its 200 day simple moving average is $244.28. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $62.00 billion, a P/E ratio of 25.71 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 1,952 shares of the company’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 in the company, valued at $20,443,250. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $247.15, for a total transaction of $6,178,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $130,000.90. The trade was a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,717 shares of company stock valued at $42,980,101 over the last quarter. 17.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COIN shares. Oppenheimer set a $293.00 price target on Coinbase Global in a research report on Thursday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Barclays upped their price objective on Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Piper Sandler upped their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a report on Monday, May 12th. Eleven research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.10.

Check Out Our Latest Report on Coinbase Global

About Coinbase Global

(Free Report)

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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