Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,988 shares of the cryptocurrency exchange’s stock after acquiring an additional 646 shares during the quarter. Truist Financial Corp’s holdings in Coinbase Global were worth $1,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its stake in Coinbase Global by 162.9% during the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after acquiring an additional 114 shares during the last quarter. Intech Investment Management LLC increased its stake in Coinbase Global by 454.3% during the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after acquiring an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd grew its stake in shares of Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after buying an additional 85,573 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Coinbase Global by 130.5% in the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after buying an additional 5,493 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after buying an additional 7,148 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the sale, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the sale, the chief financial officer now directly owns 182,903 shares in the company, valued at $41,901,248.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,037 shares of company stock worth $15,512,370. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Up 7.4 %

NASDAQ:COIN opened at $176.38 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $178.63 and its two-hundred day moving average is $213.23. Coinbase Global, Inc. has a 52 week low of $70.42 and a 52 week high of $283.48. The company has a market cap of $43.83 billion, a PE ratio of 31.67 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last announced 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 company had revenue of $1.45 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.42) earnings per share. On average, analysts predict that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their target price 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. Bank of America lowered their target price on 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 reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday. Finally, Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $246.44.

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.