CAP Partners LLC Buys 273 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

CAP Partners LLC grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,382 shares of the cryptocurrency exchange’s stock after acquiring an additional 273 shares during the quarter. Coinbase Global accounts for 1.3% of CAP Partners LLC’s holdings, making the stock its 19th biggest position. CAP Partners LLC’s holdings in Coinbase Global were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Coinbase Global by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after purchasing an additional 408,046 shares in the last quarter. Morgan Stanley increased its stake in Coinbase Global by 18.5% during the 3rd 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 in the last quarter. Norges Bank bought a new stake in Coinbase Global during the 4th quarter worth approximately $202,936,000. a16z Perennial Management L.P. bought a new stake in Coinbase Global during the 4th quarter worth approximately $147,646,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Coinbase Global by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock worth $114,211,000 after purchasing an additional 37,847 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at $14,644,039.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 2,212 shares of the company’s stock, valued at $529,287.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,141 shares of company stock valued at $78,864,413. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock traded down $5.86 during trading on Tuesday, reaching $227.51. 4,391,436 shares of the company’s stock were exchanged, compared to its average volume of 11,792,904. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $55.87 billion, a PE ratio of 45.71 and a beta of 3.40. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The firm’s fifty day moving average price is $227.85 and its 200-day moving average price is $202.76.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Oppenheimer boosted their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a research report on Tuesday, June 18th. Finally, Barclays lifted their price target on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research note on Monday, May 6th. 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’s stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average target price of $215.50.

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.