Perigon Wealth Management LLC Has $1.39 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Perigon Wealth Management LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,065 shares of the cryptocurrency exchange’s stock after buying an additional 304 shares during the quarter. Perigon Wealth Management LLC’s holdings in Coinbase Global were worth $1,389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global in the fourth quarter worth $26,000. Bessemer Group Inc. increased its position in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the period. Atala Financial Inc bought a new position in shares of Coinbase Global in the fourth quarter worth $27,000. Finally, NBT Bank N A NY bought a new position in shares of Coinbase Global in the first quarter worth $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $353.43 on Friday. The firm has a market capitalization of $89.73 billion, a price-to-earnings ratio of 66.19, a PEG ratio of 25.85 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $382.00. The business has a 50 day simple moving average of $249.67 and a 200-day simple moving average of $241.43. 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 posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The company had revenue of $2.03 billion during 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%. Coinbase Global’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.53 earnings per share. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

COIN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Coinbase Global from $276.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. China Renaissance began coverage on Coinbase Global in a research report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 target price on the stock. Compass Point upgraded Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price target on the stock in a report on Monday, May 12th. Barclays upped their target price on Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, Oppenheimer reissued an “outperform” rating and issued a $395.00 price target (up from $293.00) on shares of Coinbase Global in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $291.06.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was 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 directly owns 83,313 shares of the company’s stock, valued at approximately $16,505,971.56. This trade represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 107,291 shares of the company’s stock, valued at $21,458,200. This represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 665,915 shares of company stock valued at $212,665,732. Insiders own 17.65% of the company’s stock.

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.