CAP Partners LLC Has $2.14 Million Position in Coinbase Global, Inc. $COIN

CAP Partners LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 11.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,106 shares of the cryptocurrency exchange’s stock after acquiring an additional 615 shares during the quarter. Coinbase Global makes up about 1.3% of CAP Partners LLC’s investment portfolio, making the stock its 21st largest holding. CAP Partners LLC’s holdings in Coinbase Global were worth $2,140,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after acquiring an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Coinbase Global in the first quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global in the second quarter valued at $30,000. S Bank Fund Management Ltd acquired a new stake in Coinbase Global in the first quarter valued at $31,000. Finally, SouthState Corp lifted its stake in Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $322.76 on Friday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The firm has a market cap of $82.93 billion, a price-to-earnings ratio of 31.21 and a beta of 3.68. The firm’s 50-day simple moving average is $328.89 and its 200 day simple moving average is $297.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.14 earnings per share. Coinbase Global’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the transaction, the insider directly owned 478 shares of the company’s stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,657 shares of company stock valued at $67,479,576. 17.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COIN. Piper Sandler restated a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $325.00 to $417.00 in a research note on Friday, October 3rd. Bank of America cut their target price on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Williams Trading set a $405.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, Compass Point raised their target price on shares of Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.09.

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.