GFS Advisors LLC Acquires New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

GFS Advisors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,700 shares of the cryptocurrency exchange’s stock, valued at approximately $637,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in shares of Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after buying an additional 40 shares in the last quarter. IPG Investment Advisors LLC raised its holdings in Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after acquiring an additional 45 shares during the last quarter. Vivaldi Capital Management LP lifted its stake in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after purchasing an additional 47 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of Coinbase Global by 1.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange’s stock worth $1,159,000 after purchasing an additional 54 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of Coinbase Global by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock worth $2,746,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, May 13th. Jefferies Financial Group reissued a “hold” rating and issued a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Citigroup reiterated a “neutral” rating on shares of Coinbase Global in a report on Thursday, May 8th. Finally, Barclays raised their price target on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.88.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 1,741 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $247.50, for a total transaction of $430,897.50. Following the transaction, the chief financial officer now owns 10,450 shares of the company’s stock, valued at approximately $2,586,375. This trade represents a 14.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This represents a 96.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,538 shares of company stock worth $51,299,116. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global Stock Up 16.3%

COIN stock opened at $295.29 on Thursday. The company’s 50 day moving average price is $227.26 and its 200 day moving average price is $241.11. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 18.50 and a beta of 3.61. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52.

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

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.