Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Quest Partners LLC

Quest Partners LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 233.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 297 shares of the cryptocurrency exchange’s stock after purchasing an additional 208 shares during the period. Quest Partners LLC’s holdings in Coinbase Global were worth $66,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COIN. Salem Investment Counselors Inc. increased its holdings in shares of Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after buying an additional 114 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after purchasing an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd grew its holdings in shares of Coinbase Global by 58.6% during 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 period. QRG Capital Management Inc. grew its holdings in shares of Coinbase Global by 130.5% during 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 period. Finally, Edgestream Partners L.P. raised its holdings 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 valued at $3,922,000 after buying an additional 7,148 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The disclosure for this sale can be found here. In the last three months, insiders sold 111,562 shares of company stock valued at $23,115,399. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $162.45 on Wednesday. The company has a market capitalization of $39.89 billion, a price-to-earnings ratio of 32.43 and a beta of 3.36. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $201.87 and a 200 day moving average price of $222.80.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned ($0.42) earnings per share. The company’s quarterly revenue was up 104.8% on a year-over-year basis. Research analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on COIN. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Finally, HC Wainwright lowered their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $246.06.

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.