Edgestream Partners L.P. Purchases 9,641 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Edgestream Partners L.P. raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 50.0% in the 1st quarter, Holdings Channel reports. The firm owned 28,905 shares of the cryptocurrency exchange’s stock after buying an additional 9,641 shares during the quarter. Edgestream Partners L.P.’s holdings in Coinbase Global were worth $4,978,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new position in Coinbase Global in the 4th quarter valued at $25,000. Copia Wealth Management bought a new stake in shares of Coinbase Global during the 4th quarter worth $26,000. Bessemer Group Inc. lifted its holdings in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares during the last quarter. NBT Bank N A NY bought a new stake in shares of Coinbase Global during the 1st quarter worth $33,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Coinbase Global during the 1st quarter worth $34,000. 68.84% of the stock is owned by institutional investors.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 3,000 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total value of $1,080,600.00. Following the completion of the transaction, the chief financial officer directly owned 97,366 shares of the company’s stock, valued at $35,071,233.20. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the completion of the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at approximately $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 864,109 shares of company stock worth $295,681,757. Company insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COIN shares. The Goldman Sachs Group lifted their price objective on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a “neutral” rating in a report on Monday, July 7th. Argus started coverage on shares of Coinbase Global in a report on Monday. They set a “buy” rating and a $400.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a report on Friday, May 9th. Finally, Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.71.

Coinbase Global Stock Performance

Coinbase Global stock opened at $388.02 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 firm has a 50-day moving average of $289.76 and a 200-day moving average of $248.00. The firm has a market cap of $98.51 billion, a P/E ratio of 72.66, a P/E/G ratio of 29.98 and a beta of 3.70. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $400.88.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share 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 analysts’ expectations of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. 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 company posted $2.53 earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.