KG&L Capital Management LLC Purchases Shares of 3,446 Coinbase Global, Inc. (NASDAQ:COIN)

KG&L Capital Management LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,446 shares of the cryptocurrency exchange’s stock, valued at approximately $594,000.

Several other large investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in shares of Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after acquiring an additional 40 shares during the last quarter. IPG Investment Advisors LLC grew its holdings in shares of Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after purchasing an additional 45 shares during the last quarter. Vivaldi Capital Management LP increased its stake in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after buying an additional 47 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Coinbase Global by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock valued at $2,746,000 after purchasing an additional 55 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in Coinbase Global by 2.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange’s stock worth $653,000 after acquiring an additional 60 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COIN has been the topic of several recent analyst reports. Piper Sandler upped their target price on Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Monness Crespi & Hardt upgraded Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, May 13th. JMP Securities reiterated a “market outperform” rating and issued a $400.00 price target on shares of Coinbase Global in a report on Wednesday. Cantor Fitzgerald began coverage on Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a research note on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $286.42.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $355.37 on Thursday. The stock has a market cap of $90.22 billion, a P/E ratio of 66.55, a P/E/G ratio of 25.22 and a beta of 3.61. The stock has a 50 day moving average of $242.10 and a two-hundred day moving average of $241.14. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $369.28.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the firm posted $2.53 EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $88,646.78. The trade was a 96.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total transaction of $1,981,200.00. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 212,915 shares of company stock valued at $48,349,215. Corporate insiders own 17.65% of the company’s stock.

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.