Hollencrest Capital Management Has $230,000 Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Hollencrest Capital Management lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 93.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,037 shares of the cryptocurrency exchange’s stock after acquiring an additional 500 shares during the quarter. Hollencrest Capital Management’s holdings in Coinbase Global were worth $230,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. Concord Wealth Partners raised its position in shares of 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 purchasing an additional 87 shares during the period. Mather Group LLC. bought a new position in Coinbase Global in the first quarter valued at $32,000. Crewe Advisors LLC boosted its position in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the period. Finally, Lynx Investment Advisory purchased a new stake in shares of Coinbase Global during the second quarter worth about $29,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $206.00 to $169.00 in a research note on Friday, September 6th. Bank of America lowered their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group lowered their target price on shares of 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, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $246.06.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the sale, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $380,530.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the sale, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,562 shares of company stock worth $23,115,399. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Performance

COIN opened at $168.24 on Friday. The stock’s 50 day simple moving average is $200.73 and its 200 day simple moving average is $222.38. The stock has a market cap of $41.31 billion, a P/E ratio of 33.58 and a beta of 3.36. 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, Inc. has a 1-year low of $69.63 and a 1-year high of $283.48.

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

About Coinbase Global

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.