Archford Capital Strategies LLC Buys Shares of 2,050 Coinbase Global, Inc. (NASDAQ:COIN)

Archford Capital Strategies LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,050 shares of the cryptocurrency exchange’s stock, valued at approximately $353,000.

Other hedge funds have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in Coinbase Global in the fourth quarter valued at approximately $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global in the 4th quarter valued at $26,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global in the 4th quarter valued at $35,000. Finally, Brooklands Fund Management Ltd bought a new position in Coinbase Global in the fourth quarter valued at about $37,245,000. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on COIN shares. Citigroup reiterated a “neutral” rating on shares of Coinbase Global in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price target on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Jefferies Financial Group reaffirmed a “hold” rating and set a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Barclays boosted their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Finally, Piper Sandler boosted their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.42.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the company’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the sale, the chief financial officer now owns 107,291 shares of the company’s stock, valued at approximately $21,458,200. This represents a 6.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 1,952 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $280.02, for a total value of $546,599.04. Following the sale, the insider now owns 82,328 shares in the company, valued at approximately $23,053,486.56. The trade was a 2.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,915 shares of company stock valued at $48,349,215. 17.65% of the stock is currently owned by insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $355.37 on Thursday. The business’s 50 day simple moving average is $242.10 and its 200 day simple moving average is $241.14. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $369.28. The stock has a market capitalization of $90.22 billion, a PE ratio of 66.55, a PEG ratio of 25.22 and a beta of 3.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN) last posted 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 net margin of 21.14% and a return on equity of 20.25%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company posted $2.53 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.