Hantz Financial Services Inc. Buys Shares of 245 Coinbase Global, Inc. (NASDAQ:COIN)

Hantz Financial Services Inc. acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 245 shares of the cryptocurrency exchange’s stock, valued at approximately $54,000.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares during the last quarter. Norges Bank acquired a new position in Coinbase Global in the fourth quarter valued at approximately $202,936,000. Hamilton Lane Advisors LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $88,015,000. Canada Pension Plan Investment Board boosted its holdings in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global during the 1st quarter worth approximately $108,434,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on COIN shares. Barclays upped their price objective on shares of Coinbase Global from $196.00 to $206.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. HC Wainwright reduced their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Two 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’s stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average target price of $248.38.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Jennifer N. Jones sold 450 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $380,530.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now 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 90 days, insiders sold 78,987 shares of company stock worth $17,535,714. 23.43% of the stock is owned by company insiders.

Coinbase Global Price Performance

Coinbase Global stock opened at $183.36 on Tuesday. The stock has a market cap of $45.03 billion, a P/E ratio of 36.60 and a beta of 3.40. 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 $215.82 and its two-hundred day moving average price is $224.75. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48.

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

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.