Quarry LP Buys 358 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Quarry LP lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 205.7% during the 2nd quarter, Holdings Channel reports. The fund owned 532 shares of the cryptocurrency exchange’s stock after acquiring an additional 358 shares during the quarter. Quarry LP’s holdings in Coinbase Global were worth $118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Salem Investment Counselors Inc. boosted its holdings in shares of Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after acquiring an additional 114 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after acquiring an additional 33,240 shares in the last quarter. Paragon Capital Management Ltd lifted its holdings in Coinbase Global by 58.6% during the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after buying an additional 85,573 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Coinbase Global by 130.5% during the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after buying an additional 5,493 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in Coinbase Global by 93.5% during the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after buying an additional 7,148 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN stock opened at $165.01 on Wednesday. The business’s 50-day moving average price is $188.17 and its two-hundred day moving average price is $217.89. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a market cap of $40.52 billion, a PE ratio of 32.94 and a beta of 3.36. Coinbase Global, Inc. has a 1-year low of $70.41 and a 1-year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. The business’s revenue 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 year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research reports. Bank of America reduced their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Compass Point reduced their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Barclays upgraded Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $206.00 to $169.00 in a research report on Friday, September 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $246.06.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated 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 sale, the insider now owns 71,195 shares of the company’s stock, valued at approximately $16,784,221.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Alesia J. Haas sold 4,500 shares of Coinbase Global stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $229.09, for a total value of $1,030,905.00. Following the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The disclosure for this sale can be found here. Insiders have sold 101,612 shares of company stock valued at $20,326,489 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Coinbase Global 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.