873 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 873 shares of the cryptocurrency exchange’s stock, valued at approximately $231,000.

Several other institutional investors also recently modified their holdings of COIN. Raymond James & Associates lifted its holdings in shares of Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after purchasing an additional 9,564 shares during the last quarter. KBC Group NV increased its position in shares of Coinbase Global by 26.2% in the fourth quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock worth $3,793,000 after acquiring an additional 4,524 shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $302,000. Russell Investments Group Ltd. lifted its position in shares of Coinbase Global by 10.4% in the 4th quarter. Russell Investments Group Ltd. now owns 17,962 shares of the cryptocurrency exchange’s stock valued at $3,142,000 after acquiring an additional 1,685 shares in the last quarter. Finally, Board of Trustees of The Leland Stanford Junior University acquired a new position in Coinbase Global in the 4th quarter worth approximately $36,241,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 5.0 %

NASDAQ:COIN opened at $233.37 on Tuesday. The company has a market cap of $57.31 billion, a price-to-earnings ratio of 46.58 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average price is $227.85 and its two-hundred day moving average price is $202.76. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. The business had revenue of $1.64 billion for 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, analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $248.00, for a total value of $372,000.00. Following the sale, the chief operating officer now directly owns 215,351 shares in the company, valued at approximately $53,407,048. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $248.00, for a total transaction of $372,000.00. Following the sale, the chief operating officer now owns 215,351 shares of the company’s stock, valued at approximately $53,407,048. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at $15,623,742.75. The disclosure for this sale can be found here. Insiders sold a total of 343,641 shares of company stock valued at $76,670,568 over the last three months. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COIN shares. Canaccord Genuity Group increased their price objective on Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Piper Sandler boosted their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, The Goldman Sachs Group cut their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.