Gordian Capital Singapore Pte Ltd Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Gordian Capital Singapore Pte Ltd bought a new position in Coinbase Global, Inc. (NASDAQ:COIN – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 130 shares of the cryptocurrency exchange’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new position in Coinbase Global in the fourth quarter worth about $25,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Coinbase Global during the 4th quarter valued at approximately $25,000. Gradient Investments LLC raised its stake in Coinbase Global by 222.9% during the 4th quarter. Gradient Investments LLC now owns 113 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 78 shares during the period. Center for Financial Planning Inc. raised its stake in Coinbase Global by 182.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 127 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Finally, Trustcore Financial Services LLC raised its stake in Coinbase Global by 504.8% during the 4th quarter. Trustcore Financial Services LLC now owns 127 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 106 shares during the period. 39.01% of the stock is currently owned by hedge funds and other institutional investors.

COIN has been the topic of several recent analyst reports. DA Davidson decreased their target price on Coinbase Global from $225.00 to $160.00 in a research note on Tuesday, May 10th. Citigroup cut their price target on Coinbase Global from $300.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, March 22nd. Cowen began coverage on Coinbase Global in a report on Thursday. They issued an “outperform” rating and a $85.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Coinbase Global from $345.00 to $296.00 and set an “overweight” rating for the company in a report on Wednesday, February 23rd. Finally, Zacks Investment Research upgraded Coinbase Global from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $240.05.

In related news, insider Paul Grewal sold 1,090 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $67.26, for a total value of $73,313.40. Following the completion of the transaction, the insider now owns 43,220 shares of the company’s stock, valued at approximately $2,906,977.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III purchased 706,554 shares of Coinbase Global stock in a transaction that occurred on Friday, May 13th. The stock was acquired at an average cost of $70.77 per share, with a total value of $50,002,826.58. Following the acquisition, the director now directly owns 706,554 shares in the company, valued at approximately $50,002,826.58. The disclosure for this purchase can be found here. Insiders bought 1,121,844 shares of company stock worth $76,837,576 in the last 90 days.

Coinbase Global stock traded up $7.25 during trading hours on Friday, hitting $77.12. 139,230 shares of the stock traded hands, compared to its average volume of 7,591,469. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.55. The firm’s 50 day moving average price is $131.18 and its 200-day moving average price is $199.07. The stock has a market capitalization of $16.93 billion and a price-to-earnings ratio of 8.04. Coinbase Global, Inc. has a 1 year low of $40.83 and a 1 year high of $368.90.

Coinbase Global (NASDAQ:COIN – Get Rating) last issued its earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). Coinbase Global had a return on equity of 42.39% and a net margin of 33.63%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The firm’s quarterly revenue was down 35.2% compared to the same quarter last year. Research analysts forecast that Coinbase Global, Inc. will post -7.6 earnings per share for the current fiscal year.

Coinbase Global Company Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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