Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Waldron Private Wealth LLC

Waldron Private Wealth LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,259 shares of the cryptocurrency exchange’s stock after selling 209 shares during the quarter. Waldron Private Wealth LLC’s holdings in Coinbase Global were worth $502,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in Coinbase Global in the 4th quarter worth approximately $27,000. Crewe Advisors LLC boosted its stake in shares of Coinbase Global by 547.4% during 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 acquired a new stake in shares of Coinbase Global during the 2nd quarter valued at $29,000. Concord Wealth Partners boosted its stake in shares of Coinbase Global by 322.2% during 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. boosted 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 valued at $30,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $183.36 on Monday. The firm has a market cap of $45.03 billion, a PE ratio of 36.60 and a beta of 3.40. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. 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 company’s 50-day moving average price is $216.40 and its two-hundred day moving average price is $224.62.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm earned ($0.42) earnings per share. Coinbase Global’s quarterly revenue was up 104.8% on a year-over-year basis. On average, equities analysts anticipate that Coinbase Global, Inc. will post 4.28 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coinbase Global news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $380,530.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,987 shares of company stock worth $17,535,714. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Coinbase Global from $196.00 to $206.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. HC Wainwright dropped their target price 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 upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $248.38.

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.