CAP Partners LLC Purchases 615 Shares of Coinbase Global, Inc. $COIN

CAP Partners LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,106 shares of the cryptocurrency exchange’s stock after buying an additional 615 shares during the quarter. Coinbase Global comprises about 1.3% of CAP Partners LLC’s portfolio, making the stock its 21st largest position. CAP Partners LLC’s holdings in Coinbase Global were worth $2,140,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in Coinbase Global by 24.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after buying an additional 9,952 shares during the period. Amalgamated Bank increased its holdings in Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after buying an additional 629 shares during the period. Kera Capital Partners Inc. increased its holdings in Coinbase Global by 3.0% in the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock valued at $12,954,000 after buying an additional 1,085 shares during the period. Parallel Advisors LLC increased its holdings in Coinbase Global by 102.6% in the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock valued at $3,738,000 after buying an additional 5,402 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after purchasing an additional 84 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COIN. Williams Trading set a $405.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. The Goldman Sachs Group raised their price target on shares of Coinbase Global from $363.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Canaccord Genuity Group restated a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Argus began coverage on shares of Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price target on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $376.09.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total value of $3,458,800.00. Following the transaction, the insider owned 82,328 shares in the company, valued at approximately $28,475,608.64. The trade was a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $190,054.32. This trade represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 in the last ninety days. Company insiders own 17.65% of the company’s stock.

Coinbase Global Stock Up 0.8%

NASDAQ:COIN opened at $322.76 on Friday. The firm’s 50 day simple moving average is $328.89 and its 200 day simple moving average is $297.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a market cap of $82.93 billion, a PE ratio of 31.21 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts anticipate 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.