Prairie Wealth Advisors Inc. Sells 145 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Prairie Wealth Advisors Inc. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,325 shares of the cryptocurrency exchange’s stock after selling 145 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in Coinbase Global were worth $517,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new position in Coinbase Global in the 4th quarter valued at about $27,000. Crewe Advisors LLC increased its holdings 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 period. Lynx Investment Advisory bought a new position in Coinbase Global in the 2nd quarter valued at about $29,000. Concord Wealth Partners increased its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Coinbase Global by 833.3% in the 1st 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. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Compass Point decreased their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. HC Wainwright decreased their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $246.06.

Coinbase Global Stock Up 0.9 %

NASDAQ:COIN opened at $171.68 on Wednesday. The firm’s 50 day simple moving average is $195.80 and its 200 day simple moving average is $220.40. 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 one year low of $69.63 and a one year high of $283.48. The company has a market cap of $42.66 billion, a PE ratio of 34.27 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) EPS. On average, research analysts anticipate that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, 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 transaction, the chief operating officer now owns 205,971 shares in the company, valued at approximately $46,127,205.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction, the chief operating officer now owns 205,971 shares in the company, valued at approximately $46,127,205.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the sale, the insider now owns 71,195 shares of the company’s stock, valued at approximately $16,784,221.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,562 shares of company stock worth $20,920,899. Company 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.