Northwestern Mutual Wealth Management Co. Acquires 1,137 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Northwestern Mutual Wealth Management Co. raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 38,373 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,137 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Coinbase Global were worth $8,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in shares of Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after buying an additional 55 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after purchasing an additional 57 shares in the last quarter. Benjamin Edwards Inc. raised its position in Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC lifted its holdings in Coinbase Global by 4.6% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock worth $314,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. HC Wainwright lowered their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Bank of America dropped their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $246.06.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the sale, the insider now owns 74,956 shares of the company’s stock, valued at $12,750,015.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.70, for a total transaction of $344,550.00. Following the transaction, the chief operating officer now owns 196,471 shares of the company’s stock, valued at $45,129,388.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,612 shares of company stock worth $20,326,489. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Down 7.4 %

Shares of COIN stock opened at $165.01 on Wednesday. The company has a market capitalization of $40.52 billion, a price-to-earnings ratio of 32.94 and a beta of 3.36. Coinbase Global, Inc. has a 12-month low of $70.41 and a 12-month high of $283.48. The firm has a fifty day moving average of $188.17 and a 200-day moving average of $217.89. 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 (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The business 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 quarterly revenue was up 104.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.42) earnings per share. As a group, equities research analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share 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.