Sloy Dahl & Holst LLC Grows Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sloy Dahl & Holst LLC grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,794 shares of the cryptocurrency exchange’s stock after buying an additional 916 shares during the period. Coinbase Global comprises 3.1% of Sloy Dahl & Holst LLC’s portfolio, making the stock its 5th largest position. Sloy Dahl & Holst LLC’s holdings in Coinbase Global were worth $13,201,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COIN. Norges Bank acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $202,936,000. a16z Perennial Management L.P. acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $147,646,000. Morgan Stanley raised its position in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the period. Hamilton Lane Advisors LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $88,015,000. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global during the 1st quarter worth approximately $108,434,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN traded down $2.53 during trading hours on Wednesday, hitting $224.98. 945,839 shares of the company were exchanged, compared to its average volume of 11,707,657. The company has a market capitalization of $55.25 billion, a PE ratio of 45.41 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a fifty day simple moving average of $227.67 and a 200-day simple moving average of $203.32. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48.

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

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $248.00, for a total value of $372,000.00. Following the completion of the sale, the chief operating officer now directly owns 215,351 shares of the company’s stock, valued at approximately $53,407,048. The disclosure for this sale can be found here. Insiders sold a total of 353,141 shares of company stock valued at $78,864,413 in the last three months. 23.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COIN. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Bank of America upgraded Coinbase Global from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Canaccord Genuity Group raised their target price on Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Sandler raised their target price on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Singular Research restated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $215.50.

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.