Vantage Financial Partners LLC Buys Shares of 1,266 Coinbase Global, Inc. (NASDAQ:COIN)

Vantage Financial Partners LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,266 shares of the cryptocurrency exchange’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in COIN. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $25,000. Copia Wealth Management bought a new position in Coinbase Global in the 4th quarter valued at approximately $26,000. Bessemer Group Inc. lifted its position in Coinbase Global by 297.4% in 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 in the last quarter. NBT Bank N A NY purchased a new stake in Coinbase Global during the 1st quarter valued at $33,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Coinbase Global in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 3.1%

Shares of COIN stock opened at $379.49 on Tuesday. 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, Inc. has a one year low of $142.58 and a one year high of $444.64. The company’s fifty day moving average price is $319.92 and its 200-day moving average price is $256.73. The company has a market capitalization of $96.34 billion, a price-to-earnings ratio of 71.07, a PEG ratio of 29.86 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business earned $2.53 earnings per share. Coinbase Global’s revenue was up 24.2% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a report on Friday, May 9th. Needham & Company LLC lowered their target price on shares of Coinbase Global from $330.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. HC Wainwright reiterated a “sell” rating and issued a $300.00 price target (down from $305.00) on shares of Coinbase Global in a research note on Thursday, July 10th. Argus began coverage on shares of Coinbase Global in a report on Monday, July 14th. They set a “buy” rating and a $400.00 price objective for the company. Finally, Rosenblatt Securities raised their target price on shares of Coinbase Global from $300.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $320.06.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 198,300 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at $209,279.62. The trade was a 99.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 3,000 shares of the firm’s 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 transaction, the chief financial officer owned 97,366 shares of the company’s stock, valued at approximately $35,071,233.20. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,208,340 shares of company stock valued at $439,997,456. 23.43% of the stock is owned by company insiders.

Coinbase Global 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.