HB Wealth Management LLC Acquires 347 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

HB Wealth Management LLC lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 35.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,339 shares of the cryptocurrency exchange’s stock after purchasing an additional 347 shares during the period. HB Wealth Management LLC’s holdings in Coinbase Global were worth $298,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in COIN. Vanguard Group Inc. increased its stake in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares during the period. Norges Bank bought a new position in Coinbase Global during the fourth quarter valued at about $202,936,000. Hamilton Lane Advisors LLC bought a new position in Coinbase Global during the fourth quarter valued at about $88,015,000. Canada Pension Plan Investment Board increased its stake in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares during the period. Finally, APEIRON CAPITAL Ltd bought a new position in Coinbase Global during the first quarter valued at about $108,434,000. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COIN. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Wedbush boosted their price target on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Finally, Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $248.38.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the sale, the insider now owns 71,195 shares in the company, valued at approximately $15,623,742.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $246.16, for a total transaction of $369,240.00. Following the sale, the chief operating officer now owns 207,471 shares of the company’s stock, valued at approximately $51,071,061.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,987 shares of company stock valued at $17,535,714. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Down 2.6 %

Shares of COIN opened at $183.36 on Friday. The company has a market capitalization of $45.03 billion, a P/E ratio of 36.60 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The business’s 50 day simple moving average is $216.40 and its 200-day simple moving average is $223.59.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted ($0.42) EPS. The firm’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.95 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.