Coinbase Global, Inc. (NASDAQ:COIN) is Paragon Capital Management Ltd’s 4th Largest Position

Paragon Capital Management Ltd decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,037 shares of the cryptocurrency exchange’s stock after selling 50,356 shares during the period. Coinbase Global makes up 8.6% of Paragon Capital Management Ltd’s portfolio, making the stock its 4th biggest position. Paragon Capital Management Ltd owned 0.07% of Coinbase Global worth $42,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of COIN. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new position in Coinbase Global in the third quarter valued at about $409,919,000. Charles Schwab Investment Management Inc. boosted its holdings in Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after purchasing an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC boosted its holdings in Coinbase Global by 4.7% in the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after purchasing an additional 17,650 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COIN. Needham & Company LLC upped their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Oppenheimer upped their price objective on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Piper Sandler upped their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $284.17.

Coinbase Global Stock Up 7.6 %

COIN opened at $274.89 on Thursday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.59. The stock’s 50 day moving average price is $289.78 and its 200 day moving average price is $230.14.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The firm’s revenue was up 78.8% compared to the same quarter last year. As a group, research analysts predict that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. This trade represents a 68.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the transaction, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,333 shares of company stock worth $95,092,118 in the last three months. 23.43% of the stock is owned by company insiders.

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.