Coinbase Global, Inc. (NASDAQ:COIN) Holdings Raised by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 94,865 shares of the cryptocurrency exchange’s stock after buying an additional 3,694 shares during the period. Commonwealth Equity Services LLC’s holdings in Coinbase Global were worth $21,082,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Salem Investment Counselors Inc. increased its position in Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after purchasing an additional 114 shares during the last quarter. Intech Investment Management LLC increased its position in Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after purchasing an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd increased its position in Coinbase Global by 58.6% in the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the last quarter. QRG Capital Management Inc. increased its position in Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after purchasing an additional 5,493 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in Coinbase Global by 93.5% in the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after purchasing an additional 7,148 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Down 2.6 %

COIN stock opened at $183.36 on Tuesday. The business has a fifty day moving average price of $215.82 and a 200 day moving average price of $224.75. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 36.60 and a beta of 3.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its 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 firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s quarterly revenue was up 104.8% on a year-over-year basis. During the same period last year, the business posted ($0.42) earnings per share. Analysts expect that Coinbase Global, Inc. will post 4.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of several research reports. Bank of America dropped their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. HC Wainwright decreased their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. The Goldman Sachs Group decreased their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Barclays increased their target price on Coinbase Global from $196.00 to $206.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $248.38.

Insider Activity

In other news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the transaction, the chief operating officer now owns 207,471 shares in the company, valued at $51,071,061.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,987 shares of company stock valued at $17,535,714. Company insiders own 23.43% of the company’s stock.

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.