Park Avenue Securities LLC Acquires New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Park Avenue Securities LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 873 shares of the cryptocurrency exchange’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fountainhead AM LLC lifted its position in Coinbase Global by 2.1% during the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after purchasing an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after buying an additional 81 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after purchasing an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Coinbase Global by 2.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after buying an additional 90 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Coinbase Global by 34.5% during the fourth quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock worth $61,000 after acquiring an additional 90 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

COIN opened at $233.37 on Tuesday. The business has a fifty day moving average of $227.85 and a 200 day moving average of $202.76. 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 cap of $57.31 billion, a P/E ratio of 46.58 and a beta of 3.40. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48.

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

Analyst Ratings Changes

Several brokerages recently commented on COIN. Mizuho increased their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Wedbush raised their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 5th. Finally, Barclays upped their target price on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $215.50.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $134,813.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 343,641 shares of company stock worth $76,670,568. 23.43% of the stock is currently owned by corporate insiders.

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.