Alpha DNA Investment Management LLC Buys 413 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Alpha DNA Investment Management LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,522 shares of the cryptocurrency exchange’s stock after buying an additional 413 shares during the period. Alpha DNA Investment Management LLC’s holdings in Coinbase Global were worth $783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in COIN. Creekmur Asset Management LLC bought a new position in Coinbase Global in the fourth quarter valued at $27,000. Crewe Advisors LLC raised its holdings 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 in the last quarter. Lynx Investment Advisory bought a new stake in Coinbase Global in the 2nd quarter worth approximately $29,000. Concord Wealth Partners boosted its stake in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COIN. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Compass Point lowered their target price on 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 upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $246.06.

Insider Activity at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $223.95, for a total value of $335,925.00. Following the sale, the chief operating officer now owns 205,971 shares in the company, valued at $46,127,205.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated 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 transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $91,487.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.95, for a total transaction of $335,925.00. Following the completion of the transaction, the chief operating officer now owns 205,971 shares in the company, valued at approximately $46,127,205.45. The disclosure for this sale can be found here. Insiders sold a total of 101,562 shares of company stock valued at $20,920,899 in the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 0.9 %

Shares of NASDAQ:COIN opened at $171.68 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The firm has a market capitalization of $42.66 billion, a P/E ratio of 34.27 and a beta of 3.36. The stock has a 50 day moving average price of $195.80 and a 200-day moving average price of $220.40.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business posted ($0.42) EPS. The business’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal 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.