2,205 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by BluePath Capital Management LLC

BluePath Capital Management LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,205 shares of the cryptocurrency exchange’s stock, valued at approximately $585,000.

Several other institutional investors have also bought and sold shares of COIN. Barrett & Company Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new stake in Coinbase Global in the 4th quarter valued at about $27,000. Mather Group LLC. acquired a new stake in Coinbase Global in the 1st quarter valued at about $32,000. AlphaMark Advisors LLC acquired a new stake in Coinbase Global in the 4th quarter valued at about $33,000. Finally, Signature Resources Capital Management LLC acquired a new stake in Coinbase Global in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock traded down $2.57 during trading hours on Wednesday, reaching $224.94. 3,241,374 shares of the company were exchanged, compared to its average volume of 11,725,735. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 44.88 and a beta of 3.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $227.67 and a 200 day moving average of $203.32. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, research analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Mizuho boosted their price objective on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. HC Wainwright restated a “buy” rating and set a $315.00 price objective on shares of Coinbase Global in a report on Tuesday, June 18th. Singular Research restated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $215.50.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $134,813.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Emilie Choi sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $232.24, for a total value of $1,857,920.00. Following the completion of the transaction, the chief operating officer now directly owns 197,971 shares in the company, valued at $45,976,785.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $134,813.80. The disclosure for this sale can be found here. Insiders sold 353,141 shares of company stock valued at $78,864,413 over the last 90 days. 23.43% of the stock is currently owned by company 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.