Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Blair William & Co. IL

Blair William & Co. IL cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 62.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,688 shares of the cryptocurrency exchange’s stock after selling 45,125 shares during the quarter. Blair William & Co. IL’s holdings in Coinbase Global were worth $5,931,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after purchasing an additional 55 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Coinbase Global by 12.1% in the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after acquiring an additional 57 shares during the last quarter. Capital Advisors Wealth Management LLC raised its position in shares of Coinbase Global by 4.6% during the second quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock worth $314,000 after purchasing an additional 62 shares during the period. Finally, Concord Wealth Partners lifted its holdings in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COIN. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. HC Wainwright reduced 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. Compass Point decreased their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $246.06.

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Coinbase Global 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 transaction, the chief financial officer now owns 182,903 shares in the company, valued at $41,901,248.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The disclosure for this sale can be found here. Insiders sold 111,562 shares of company stock valued at $23,115,399 over the last quarter. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 1.1 %

NASDAQ:COIN opened at $170.09 on Friday. 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 $41.77 billion, a P/E ratio of 33.95 and a beta of 3.36. The stock’s 50 day moving average price is $198.85 and its 200 day moving average price is $221.59. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last released 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 business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 3.96 EPS 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.