Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,865 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,694 shares during the period. Commonwealth Equity Services LLC’s holdings in Coinbase Global were worth $21,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after buying an additional 55 shares in the last quarter. Versant Capital Management Inc lifted its position in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its position in 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 buying an additional 62 shares in the last quarter. Concord Wealth Partners lifted its position in Coinbase Global by 322.2% during 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, Corient Private Wealth LLC lifted its position in Coinbase Global by 1.1% during the fourth quarter. Corient Private Wealth LLC now owns 8,813 shares of the cryptocurrency exchange’s stock worth $1,533,000 after buying an additional 94 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COIN shares. Bank of America reduced their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. HC Wainwright reduced their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Compass Point reduced their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $248.38.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 4,500 shares of the company’s 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 transaction, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The disclosure for this sale can be found here. In the last ninety days, insiders 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 Trading Down 2.6 %

COIN opened at $183.36 on Tuesday. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 36.60 and a beta of 3.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $215.82 and a 200 day moving average price of $224.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 return on equity of 13.89% and a net margin of 31.46%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the firm earned ($0.42) earnings per share. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global, Inc. will post 4.28 earnings per share 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.