GAMMA Investing LLC Invests $138,000 in Coinbase Global, Inc. (NASDAQ:COIN)

GAMMA Investing LLC bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 791 shares of the cryptocurrency exchange’s stock, valued at approximately $138,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barrett & Company Inc. bought a new position in Coinbase Global in the 4th quarter worth about $26,000. AlphaMark Advisors LLC bought a new position in Coinbase Global in the 4th quarter worth about $33,000. Harbor Investment Advisory LLC boosted its stake in Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. Coston McIsaac & Partners bought a new position in Coinbase Global in the 4th quarter worth about $52,000. Finally, Steph & Co. boosted its stake in Coinbase Global by 100.0% in the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after purchasing an additional 150 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 5.7 %

Coinbase Global stock opened at $236.32 on Friday. The firm has a 50 day moving average of $231.74 and a 200 day moving average of $161.48. The firm has a market capitalization of $57.25 billion, a price-to-earnings ratio of 875.26 and a beta of 3.41. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.46) EPS. As a group, research analysts predict that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $232.37, for a total value of $3,806,220.60. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $1,083,308.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $232.37, for a total transaction of $3,806,220.60. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $1,083,308.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $129.31, for a total transaction of $193,965.00. Following the sale, the chief operating officer now directly owns 233,142 shares of the company’s stock, valued at $30,147,592.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 532,208 shares of company stock valued at $99,652,403. 33.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 3rd. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Barclays upped their price target on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. HC Wainwright upped their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.43.

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.