1,272 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Pettinga Financial Advisors LLC

Pettinga Financial Advisors LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,272 shares of the cryptocurrency exchange’s stock, valued at approximately $337,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Coinbase Global by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock valued at $2,483,800,000 after acquiring an additional 408,046 shares during the last quarter. Morgan Stanley raised its holdings in Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after acquiring an additional 511,397 shares during the last quarter. Norges Bank acquired a new stake in Coinbase Global in the 4th quarter valued at about $202,936,000. Northern Trust Corp raised its holdings in Coinbase Global by 4.3% in the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock valued at $67,359,000 after acquiring an additional 37,019 shares during the last quarter. Finally, a16z Perennial Management L.P. acquired a new stake in Coinbase Global in the 4th quarter valued at about $147,646,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $243.30, for a total transaction of $3,985,254.00. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $1,134,264.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global 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 of the company’s stock, valued at approximately $40,049,012.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $243.30, for a total transaction of $3,985,254.00. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $1,134,264.60. The disclosure for this sale can be found here. Insiders sold 360,021 shares of company stock valued at $80,655,822 in the last 90 days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $225.94 on Monday. 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 52 week low of $69.63 and a 52 week high of $283.48. The stock has a market capitalization of $55.48 billion, a PE ratio of 44.36 and a beta of 3.40. The firm has a 50 day moving average of $227.70 and a two-hundred day moving average of $202.20.

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

Wall Street Analyst Weigh In

A number of analysts have commented on COIN shares. HC Wainwright reiterated a “buy” rating and issued a $315.00 price objective on shares of Coinbase Global in a report on Tuesday, June 18th. Sanford C. Bernstein raised their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Canaccord Genuity Group raised their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.