Patient Capital Management LLC Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Patient Capital Management LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 15.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,401 shares of the cryptocurrency exchange’s stock after acquiring an additional 26,569 shares during the period. Coinbase Global accounts for about 2.3% of Patient Capital Management LLC’s holdings, making the stock its 25th biggest position. Patient Capital Management LLC owned approximately 0.08% of Coinbase Global worth $50,504,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its stake in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. Brooklands Fund Management Ltd purchased a new position in Coinbase Global during the 4th quarter worth $37,245,000. Finally, BNP Paribas acquired a new stake in shares of Coinbase Global in the 4th quarter worth $50,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Compass Point raised Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 target price for the company in a research note on Monday. Cantor Fitzgerald started coverage on Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price objective on the stock. Finally, Citigroup reiterated a “neutral” rating on shares of Coinbase Global in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.75.

Coinbase Global Stock Up 24.0%

COIN stock opened at $256.90 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company’s 50 day simple moving average is $187.93 and its 200-day simple moving average is $243.41. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The firm has a market capitalization of $65.22 billion, a PE ratio of 27.04 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 EPS. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian Armstrong sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $104,226.90. The trade was a 95.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This represents a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,742 shares of company stock worth $25,758,259 over the last three months. 17.65% of the stock is currently owned by corporate insiders.

About Coinbase Global

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.