WCG Wealth Advisors LLC Has $2.43 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

WCG Wealth Advisors LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,919 shares of the cryptocurrency exchange’s stock after selling 280 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Coinbase Global were worth $2,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Vanguard Group Inc. raised its position in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Norges Bank bought a new position in Coinbase Global in the 4th quarter valued at approximately $202,936,000. Renaissance Technologies LLC boosted its position in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the period. Canada Pension Plan Investment Board grew its holdings in Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after acquiring an additional 435,886 shares during the period. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. HC Wainwright reduced their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Bank of America cut their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays upgraded Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $206.00 to $169.00 in a report on Friday, September 6th. Finally, Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $246.06.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the business’s 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at $115,883.06. The sale 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 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 transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The disclosure for this sale can be found here. Insiders have sold 111,562 shares of company stock worth $23,115,399 in the last 90 days. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $162.64 on Thursday. 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 business has a 50 day moving average price of $200.73 and a 200-day moving average price of $222.38. The company has a market cap of $39.94 billion, a PE ratio of 32.46 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) earnings per share. Equities analysts anticipate that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

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.