Benjamin Edwards Inc. Has $446,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Benjamin Edwards Inc. lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,009 shares of the cryptocurrency exchange’s stock after purchasing an additional 61 shares during the period. Benjamin Edwards Inc.’s holdings in Coinbase Global were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its stake in Coinbase Global by 39.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 26,022 shares of the cryptocurrency exchange’s stock valued at $5,783,000 after buying an additional 7,423 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Coinbase Global by 362.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,125 shares of the cryptocurrency exchange’s stock worth $2,917,000 after acquiring an additional 10,289 shares during the last quarter. Intech Investment Management LLC raised its stake in Coinbase Global by 164.7% in the 2nd quarter. Intech Investment Management LLC now owns 107,361 shares of the cryptocurrency exchange’s stock valued at $23,859,000 after acquiring an additional 66,805 shares during the period. Hsbc Holdings PLC lifted its holdings in Coinbase Global by 153.9% during the 2nd quarter. Hsbc Holdings PLC now owns 203,666 shares of the cryptocurrency exchange’s stock valued at $45,043,000 after purchasing an additional 123,454 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its position in Coinbase Global by 2.8% during the second quarter. Elo Mutual Pension Insurance Co now owns 16,292 shares of the cryptocurrency exchange’s stock worth $3,621,000 after purchasing an additional 441 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COIN. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Trading Up 1.1 %

COIN opened at $170.09 on Friday. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of 33.95 and a beta of 3.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The company has a 50-day simple moving average of $199.80 and a 200 day simple moving average of $222.00.

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). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s revenue was up 104.8% on a year-over-year basis. During the same period last year, the company posted ($0.42) EPS. Analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.