Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Raised by LexAurum Advisors LLC

LexAurum Advisors LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,971 shares of the cryptocurrency exchange’s stock after purchasing an additional 996 shares during the period. LexAurum Advisors LLC’s holdings in Coinbase Global were worth $2,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COIN. Mascagni Wealth Management Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $35,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $251.27 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $212.70 and its two-hundred day moving average is $243.25. The company has a market cap of $63.79 billion, a P/E ratio of 26.45 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Benchmark raised their price objective on Coinbase Global from $252.00 to $301.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Rosenblatt Securities reissued a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Monday, May 12th. The Goldman Sachs Group raised their price objective on Coinbase Global from $189.00 to $209.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. Finally, Compass Point raised Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective on the stock in a research note on Monday, May 12th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $266.10.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $16,505,971.56. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,717 shares of company stock worth $42,980,101. Company insiders own 17.65% of the company’s stock.

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.