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

Robertson Stephens Wealth Management LLC lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 350.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,111 shares of the cryptocurrency exchange’s stock after purchasing 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.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its position in Coinbase Global by 4.3% during the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares in the last quarter. IPG Investment Advisors LLC boosted its stake in shares of Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after purchasing an additional 45 shares during the last quarter. Vivaldi Capital Management LP grew its holdings in shares of Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after buying an additional 47 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Coinbase Global by 1.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange’s stock worth $1,159,000 after buying an additional 54 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Coinbase Global by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock valued at $2,746,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $104,226.90. This represents a 95.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,717 shares of company stock worth $49,363,601. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 3.0%

Shares of Coinbase Global stock opened at $253.85 on Wednesday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The stock has a market cap of $64.45 billion, a price-to-earnings ratio of 47.54, a price-to-earnings-growth ratio of 19.06 and a beta of 3.61. 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 company has a fifty day moving average price of $224.90 and a 200 day moving average price of $240.73.

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

Analysts Set New Price Targets

Several analysts have commented on COIN shares. China Renaissance started coverage on shares of Coinbase Global in a research note on Tuesday. They issued a “buy” rating and a $353.30 target price for the company. Compass Point raised Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. Cantor Fitzgerald began coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 target price on the stock. Bank of America decreased their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Coinbase Global in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.88.

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.