CAP Partners LLC Purchases 273 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

CAP Partners LLC grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,382 shares of the cryptocurrency exchange’s stock after buying an additional 273 shares during the quarter. Coinbase Global accounts for approximately 1.3% of CAP Partners LLC’s investment portfolio, making the stock its 19th biggest holding. CAP Partners LLC’s holdings in Coinbase Global were worth $1,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Coinbase Global during the fourth quarter worth about $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $147,646,000. Morgan Stanley raised its holdings in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the period. Hamilton Lane Advisors LLC bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $88,015,000. Finally, APEIRON CAPITAL Ltd purchased a new position in Coinbase Global in the first quarter valued at approximately $108,434,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN traded down $5.86 during trading hours on Tuesday, reaching $227.51. 4,391,436 shares of the company’s stock traded hands, compared to its average volume of 11,792,904. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a market cap of $55.87 billion, a PE ratio of 45.71 and a beta of 3.40. The firm’s 50 day simple moving average is $227.85 and its 200-day simple moving average is $202.76.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. Equities analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Singular Research restated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. HC Wainwright reiterated a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a research note on Tuesday, June 18th. Sanford C. Bernstein boosted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Finally, Piper Sandler raised their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $215.50.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $943,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at approximately $943,122.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,141 shares of company stock valued at $78,864,413. Insiders own 23.43% of the company’s stock.

Coinbase Global Company 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.