Rathbones Group PLC Grows Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Rathbones Group PLC grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,364 shares of the cryptocurrency exchange’s stock after buying an additional 276 shares during the period. Rathbones Group PLC’s holdings in Coinbase Global were worth $1,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new position in Coinbase Global in the 4th quarter worth $27,000. Crewe Advisors LLC lifted its holdings in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory purchased a new stake in Coinbase Global in the second quarter worth about $29,000. Concord Wealth Partners grew its holdings 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 worth $30,000 after acquiring an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. Compass Point dropped their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Bank of America dropped their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Price Performance

NASDAQ COIN opened at $161.50 on Tuesday. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The stock has a 50-day moving average of $203.02 and a 200 day moving average of $223.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $39.66 billion, a price-to-earnings ratio of 32.24 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last posted its 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). The company had revenue of $1.45 billion during 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 revenue for the quarter was up 104.8% on a year-over-year basis. During the same period last year, the firm posted ($0.42) EPS. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $115,883.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $16,784,221.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $115,883.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,062 shares of company stock worth $22,872,039. 23.43% of the stock is owned by insiders.

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.