Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 19.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,011 shares of the cryptocurrency exchange’s stock after selling 6,227 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Coinbase Global were worth $5,558,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in Coinbase Global in the 4th quarter valued at $27,000. Lynx Investment Advisory purchased a new position in Coinbase Global in the second quarter worth $29,000. Concord Wealth Partners lifted its holdings in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 4.1 %

COIN opened at $190.20 on Thursday. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. The business has a 50-day moving average of $218.19 and a two-hundred day moving average of $223.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $46.71 billion, a price-to-earnings ratio of 37.96 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The business’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period last year, the company posted ($0.42) EPS. On average, research analysts expect that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $115,883.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The disclosure for this sale can be found here. Insiders sold a total of 78,987 shares of company stock worth $17,535,714 in the last ninety days. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on COIN shares. Barclays boosted their price target on Coinbase Global from $196.00 to $206.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Wedbush upped their target price on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $248.38.

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.