BluePath Capital Management LLC Takes $585,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barrett & Company Inc. bought a new stake in Coinbase Global during the 4th quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in Coinbase Global during the 4th quarter worth $27,000. Mather Group LLC. bought a new stake in Coinbase Global during the 1st quarter worth $32,000. AlphaMark Advisors LLC bought a new stake in Coinbase Global during the 4th quarter worth $33,000. Finally, Signature Resources Capital Management LLC bought a new stake in Coinbase Global during the 4th quarter worth $39,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock traded down $2.57 during trading on Wednesday, hitting $224.94. The stock had a trading volume of 3,241,374 shares, compared to its average volume of 11,725,735. Coinbase Global, Inc. has a 1 year low of $69.63 and a 1 year high of $283.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $227.67 and its two-hundred day moving average is $203.32. The stock has a market cap of $55.24 billion, a price-to-earnings ratio of 44.88 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. As a group, analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the sale, the insider now owns 66,122 shares in the company, valued at $14,644,039.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total transaction of $293,850.00. Following the sale, the chief operating officer now owns 204,436 shares in the company, valued at $40,049,012.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the sale, the insider now owns 66,122 shares in the company, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,141 shares of company stock worth $78,864,413. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $315.00 price objective on shares of Coinbase Global in a research report on Tuesday, June 18th. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Wednesday, June 5th. Finally, Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $215.50.

Coinbase Global Company 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.