1,573 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Lbp Am Sa

Lbp Am Sa acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 1,573 shares of the cryptocurrency exchange’s stock, valued at approximately $417,000.

Several other institutional investors have also recently bought and sold shares of the business. Hancock Whitney Corp acquired a new position in Coinbase Global during the first quarter worth $1,129,000. Empirical Capital Management LLC purchased a new stake in shares of Coinbase Global in the first quarter valued at about $345,000. California State Teachers Retirement System raised its holdings in shares of Coinbase Global by 2.3% in the first quarter. California State Teachers Retirement System now owns 276,507 shares of the cryptocurrency exchange’s stock valued at $73,308,000 after purchasing an additional 6,200 shares during the last quarter. Oxford Wealth Group LLC purchased a new stake in shares of Coinbase Global in the first quarter valued at about $205,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Coinbase Global by 66.4% in the first quarter. Janus Henderson Group PLC now owns 17,127 shares of the cryptocurrency exchange’s stock valued at $4,539,000 after purchasing an additional 6,835 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 3.5 %

Shares of COIN stock traded down $7.50 during trading hours on Friday, hitting $205.14. 6,808,312 shares of the company’s stock traded hands, compared to its average volume of 11,235,282. 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’s fifty day simple moving average is $235.19 and its two-hundred day simple moving average is $213.68. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The stock has a market cap of $50.38 billion, a price-to-earnings ratio of 41.36 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. On average, analysts expect that Coinbase Global, Inc. will post 4.95 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on COIN shares. Wedbush increased their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Piper Sandler raised their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Friday. Finally, Sanford C. Bernstein raised their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $245.27.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total value of $3,473,870.40. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $988,716.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $380,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $212.08, for a total value of $3,473,870.40. Following the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $988,716.96. The disclosure for this sale can be found here. Insiders sold 257,101 shares of company stock worth $55,742,178 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

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.