Paragon Capital Management Ltd Has $42.97 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Paragon Capital Management Ltd cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 22.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 173,037 shares of the cryptocurrency exchange’s stock after selling 50,356 shares during the quarter. Coinbase Global comprises 8.6% of Paragon Capital Management Ltd’s holdings, making the stock its 4th biggest position. Paragon Capital Management Ltd’s holdings in Coinbase Global were worth $42,965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of COIN. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $32,000. Brown Brothers Harriman & Co. boosted its position in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the period. Abich Financial Wealth Management LLC boosted its position in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after buying an additional 181 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $55,000. 68.84% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the sale, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,333 shares of company stock valued at $95,092,118. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COIN shares. Barclays raised their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Piper Sandler increased their price objective on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Monness Crespi & Hardt increased their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $284.17.

Coinbase Global Trading Up 7.6 %

Shares of NASDAQ:COIN opened at $274.89 on Thursday. The company 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 is $289.78 and its 200-day moving average is $230.14. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

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

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.