Brighton Jones LLC Sells 93 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Brighton Jones LLC reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,112 shares of the cryptocurrency exchange’s stock after selling 93 shares during the quarter. Brighton Jones LLC’s holdings in Coinbase Global were worth $1,803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global in the fourth quarter valued at about $27,000. Crewe Advisors LLC raised its position in Coinbase Global by 547.4% in the 2nd 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 last quarter. Lynx Investment Advisory bought a new stake in Coinbase Global in the 2nd quarter valued at approximately $29,000. Concord Wealth Partners boosted its position in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the sale, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. 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 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.95, for a total value of $335,925.00. Following the completion of the sale, the chief operating officer now owns 205,971 shares of the company’s stock, valued at $46,127,205.45. The disclosure for this sale can be found here. Insiders sold 111,562 shares of company stock worth $23,115,399 in the last ninety days. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $170.09 on Friday. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The company 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 50-day simple moving average of $199.80 and a 200 day simple moving average of $222.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) 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 company’s revenue was up 104.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on COIN shares. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $206.00 to $169.00 in a report on Friday, September 6th. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group decreased their price target 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, JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective 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 given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $246.06.

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.