Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by AlphaQ Advisors LLC

AlphaQ Advisors LLC grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 51.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,251 shares of the cryptocurrency exchange’s stock after buying an additional 764 shares during the period. Coinbase Global accounts for about 1.5% of AlphaQ Advisors LLC’s holdings, making the stock its 21st biggest holding. AlphaQ Advisors LLC’s holdings in Coinbase Global were worth $559,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $35,000. Finally, Brooklands Fund Management Ltd purchased a new position in Coinbase Global during the fourth quarter worth approximately $37,245,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COIN shares. The Goldman Sachs Group upped their target price on Coinbase Global from $189.00 to $209.00 and gave the company a “neutral” rating in a report on Monday, May 12th. JMP Securities reiterated a “market outperform” rating and issued a $400.00 price objective on shares of Coinbase Global in a research report on Thursday, May 8th. Canaccord Genuity Group restated a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on Coinbase Global from $276.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, May 13th. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.40.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $261.38 on Wednesday. The business has a 50-day simple moving average of $194.78 and a 200-day simple moving average of $245.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The company has a market cap of $66.36 billion, a PE ratio of 27.51 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the firm earned $2.53 EPS. The company’s revenue was up 24.2% on a year-over-year basis. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 1,952 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total transaction of $488,000.00. Following the completion of the sale, the insider now owns 81,773 shares in the company, valued at $20,443,250. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $88,646.78. This trade represents a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,764 shares of company stock worth $35,671,592. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global 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.