Scientech Research LLC Has $321,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Scientech Research LLC lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 53.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,445 shares of the cryptocurrency exchange’s stock after selling 1,669 shares during the quarter. Scientech Research LLC’s holdings in Coinbase Global were worth $321,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in shares of Coinbase Global by 0.4% in the 2nd 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 boosted its stake in shares of Coinbase Global by 12.1% during 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 in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Coinbase Global by 3.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after acquiring an additional 61 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC lifted its holdings in Coinbase Global by 4.6% in the 2nd 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 last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

NASDAQ COIN opened at $178.17 on Tuesday. Coinbase Global, Inc. has a twelve month low of $70.41 and a twelve 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 stock has a market cap of $43.75 billion, a P/E ratio of 35.56 and a beta of 3.36. The company’s 50-day simple moving average is $190.02 and its 200 day simple moving average is $218.43.

Coinbase Global (NASDAQ:COIN) last released 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 net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted ($0.42) earnings per share. The company’s revenue for the quarter was up 104.8% on a year-over-year basis. As a group, research analysts forecast that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on COIN shares. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $206.00 to $169.00 in a research note on Friday, September 6th. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group dropped their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, HC Wainwright decreased their target price 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $246.06.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $115,883.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Monday, July 15th. The stock was sold at an average price of $229.70, for a total value of $344,550.00. Following the completion of the transaction, the chief operating officer now owns 196,471 shares in the company, valued at approximately $45,129,388.70. 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 firm’s stock in a transaction on 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 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. In the last quarter, insiders have sold 101,612 shares of company stock worth $20,326,489. Corporate insiders own 23.43% of the company’s stock.

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.