Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 350.8% during the 1st quarter, HoldingsChannel reports. The fund owned 9,111 shares of the cryptocurrency exchange’s stock after buying an additional 7,090 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Coinbase Global were worth $1,569,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth about $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the fourth quarter worth about $26,000. Atala Financial Inc acquired a new position in Coinbase Global in the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC acquired a new position in Coinbase Global in the fourth quarter worth about $35,000. Finally, Ameriflex Group Inc. bought a new stake in Coinbase Global in the fourth quarter valued at about $37,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN opened at $253.85 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $224.90 and its 200-day moving average is $240.73. The stock has a market cap of $64.45 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 19.06 and a beta of 3.61. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. On average, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of research analyst reports. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Canaccord Genuity Group reissued a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a research report on Friday, May 9th. Oppenheimer set a $293.00 price objective on Coinbase Global in a research note on Thursday, May 15th. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $271.88.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. This trade represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $255.34, for a total transaction of $6,383,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $134,308.84. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,717 shares of company stock valued at $49,363,601. 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.