Capital Investment Advisors LLC buys shares of 1,450 Coinbase Global, Inc. (NASDAQ: COIN)

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Capital Investment Advisors LLC has acquired a new stake in the shares of Coinbase Global, Inc. (NASDAQ: CURRENCY) during the first quarter, according to the company in its most recent communication with the Securities & Exchange Commission. The institutional investor bought 1,450 shares of the cryptocurrency exchange, valued at around $275,000.

Other hedge funds and other institutional investors have also recently changed their positions in the company. West Branch Capital LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $25,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $25,000. Wagner Wealth Management LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Cornerstone Advisory LLC acquired a new position in shares of Coinbase Global during the fourth quarter, valued at approximately $27,000. Finally, Gradient Investments LLC increased its holdings of Coinbase Global shares by 222.9% during the fourth quarter. Gradient Investments LLC now owns 113 shares of the cryptocurrency exchange valued at $29,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 39.01% of the company’s shares.

A number of research companies have weighed in on COIN recently. Cowen began covering Coinbase Global shares in a report on Thursday, May 26. They issued an “outperformance” rating on the stock. DA Davidson lowered its target price on Coinbase Global shares from $225.00 to $160.00 in a Tuesday, May 10 report. JMP Securities lowered its target price on Coinbase Global shares from $394.00 to $250.00 in a Wednesday, May 11 report. Compass Point lowered its target price on Coinbase Global shares from $325.00 to $200.00 and set a “neutral” rating on the stock in a Monday, Feb. 28 report. Finally, Wedbush lowered its target price on Coinbase Global shares from $160.00 to $100.00 in a Wednesday, May 11 report. Six research analysts gave the stock a hold rating and seventeen gave the stock a buy rating. According to MarketBeat.com, the stock currently has a “moderate buy” consensus rating and an average target price of $203.65.

In related news, Insider Paul Grewal sold 1,090 shares of the company in a transaction that took place on Monday, May 23. The shares were sold at an average price of $67.26, for a total value of $73,313.40. Following the completion of the transaction, the insider now directly owns 43,220 shares of the company, valued at approximately $2,906,977.20. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Also, director Frederick Ernest Ehrsam III acquired 706,554 shares of the company in a transaction that took place on Friday, May 13. The shares were acquired at an average cost of $70.77 per share, with a total value of $50,002,826.58. Following the completion of the acquisition, the administrator now owns 706,554 shares of the company, valued at approximately $50,002,826.58. Disclosure of this purchase can be found here. Insiders have purchased a total of 1,121,844 shares of the company valued at $76,837,576 over the past three months. Insiders hold 36.10% of the shares of the company.

Coinbase Global Stock opened at $62.71 on Monday. Coinbase Global, Inc. has a 12-month low of $40.83 and a 12-month high of $368.90. The company has a 50-day moving average price of $83.36 and a 200-day moving average price of $160.44. The company has a market capitalization of $13.76 billion, a P/E ratio of 6.69 and a beta of 3.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt ratio of 0.52.

Coinbase Global (NASDAQ: CURRENCYGet a rating) last released its results on Tuesday, May 10. The cryptocurrency exchange reported ($1.98) earnings per share for the quarter, missing analyst consensus estimates of $0.74 per ($2.72). Coinbase Global had a net margin of 33.63% and a return on equity of 42.39%. The company posted revenue of $1.17 billion for the quarter, versus a consensus estimate of $1.48 billion. In the same period a year earlier, the company had earned earnings per share of $3.05. The company’s revenue was down 35.2% year over year. Equity analysts expect Coinbase Global, Inc. to post EPS of -8.16 for the current fiscal year.

Coinbase Global Company Profile (Get a rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and around the world. The company offers the cryptoeconomy’s leading financial account for retailers; a marketplace with a pool of liquidity to transact crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

See also

Want to see which other hedge funds hold COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ: CURRENCYGet a rating).

Institutional ownership by quarter for Coinbase Global (NASDAQ:COIN)



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