Foundations Investment Advisors LLC Purchases 2,440 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Foundations Investment Advisors LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 17.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,054 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,440 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Coinbase Global were worth $2,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COIN. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global during the fourth quarter valued at about $25,000. Copia Wealth Management bought a new position in Coinbase Global in the 4th quarter valued at about $26,000. Bessemer Group Inc. boosted its stake in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares during the last quarter. NBT Bank N A NY bought a new stake in Coinbase Global during the 1st quarter worth approximately $33,000. Finally, Berbice Capital Management LLC bought a new stake in Coinbase Global during the 1st quarter worth approximately $34,000. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. William Blair began coverage on Coinbase Global in a report on Wednesday, June 11th. They issued an “outperform” rating on the stock. Cantor Fitzgerald started coverage on Coinbase Global in a research note on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price objective on the stock. Benchmark lifted their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. JPMorgan Chase & Co. reduced their target price on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average price target of $336.58.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 336,265 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the sale, the director owned 10,417 shares in the company, valued at $2,632,167.56. This represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,208,340 shares of company stock valued at $439,997,456 in the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 2.1%

Shares of COIN stock opened at $371.44 on Wednesday. The stock has a market capitalization of $94.30 billion, a price-to-earnings ratio of 69.56, a PEG ratio of 28.93 and a beta of 3.70. The company’s fifty day simple moving average is $322.12 and its two-hundred day simple moving average is $257.53. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. 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 (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.53 earnings per share. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.