Garde Capital Inc. Invests $61,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Garde Capital Inc. bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 355 shares of the cryptocurrency exchange’s stock, valued at approximately $61,000.

A number of other hedge funds also recently modified their holdings of COIN. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $25,000. Copia Wealth Management bought a new position in Coinbase Global during the fourth quarter worth about $26,000. Atala Financial Inc bought a new position in Coinbase Global during the fourth quarter worth about $27,000. NBT Bank N A NY bought a new position in Coinbase Global during the first quarter worth about $33,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Coinbase Global during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.4%

Shares of Coinbase Global stock opened at $308.38 on Friday. The firm has a market capitalization of $78.29 billion, a PE ratio of 57.75, a price-to-earnings-growth ratio of 22.47 and a beta of 3.61. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $232.43 and its 200 day moving average is $240.43. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the firm posted $2.53 earnings per share. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 1,741 shares of Coinbase Global stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $247.50, for a total transaction of $430,897.50. Following the sale, the chief financial officer now directly owns 10,450 shares in the company, valued at $2,586,375. This trade represents a 14.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,538 shares of company stock worth $51,299,116 in the last ninety days. Company insiders own 17.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on COIN shares. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a research report on Friday, May 9th. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, May 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $260.00 price target (up from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Benchmark raised their target price on shares of Coinbase Global from $252.00 to $301.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Barclays raised their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.88.

About Coinbase Global

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.