Callan Capital LLC Buys 61 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Callan Capital LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,247 shares of the cryptocurrency exchange’s stock after purchasing an additional 61 shares during the quarter. Callan Capital LLC’s holdings in Coinbase Global were worth $215,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of COIN. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $25,000. Copia Wealth Management purchased a new position in Coinbase Global during the 4th quarter valued at $26,000. Bessemer Group Inc. boosted its holdings in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after acquiring an additional 113 shares during the period. Atala Financial Inc purchased a new position in Coinbase Global during the 4th quarter valued at $27,000. Finally, NBT Bank N A NY purchased a new position in Coinbase Global during the 1st quarter valued at $33,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 10,417 shares in the company, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 685,915 shares of company stock worth $222,081,432. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $354.82 on Wednesday. The company has a market capitalization of $90.08 billion, a P/E ratio of 66.45, a P/E/G ratio of 26.12 and a beta of 3.70. The business’s 50 day moving average is $271.24 and its two-hundred day moving average is $244.08. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $382.00.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results 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 business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.53 EPS. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on COIN shares. Needham & Company LLC dropped their price objective on Coinbase Global from $330.00 to $270.00 and set a “buy” rating for the company in a report on Monday, May 12th. Mizuho dropped their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. William Blair began coverage on Coinbase Global in a report on Wednesday, June 11th. They set an “outperform” rating for the company. Oppenheimer reiterated an “outperform” rating and issued a $395.00 target price (up from $293.00) on shares of Coinbase Global in a report on Thursday, June 26th. Finally, Citigroup reiterated a “buy” rating on shares of Coinbase Global in a report on Wednesday, June 25th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $293.74.

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.