Coinbase Global, Inc. $COIN Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 14.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,976 shares of the cryptocurrency exchange’s stock after acquiring an additional 243 shares during the quarter. Jacobi Capital Management LLC’s holdings in Coinbase Global were worth $340,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after buying an additional 9,952 shares in the last quarter. Amalgamated Bank grew its stake in shares of Coinbase Global by 4.8% in the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock valued at $2,368,000 after buying an additional 629 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after buying an additional 84 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of Coinbase Global by 124.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange’s stock valued at $453,000 after buying an additional 1,454 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Coinbase Global by 87.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange’s stock valued at $578,000 after buying an additional 1,561 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Down 0.3%

COIN opened at $323.04 on Friday. The business has a 50 day moving average price of $340.68 and a two-hundred day moving average price of $267.27. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market cap of $83.00 billion, a PE ratio of 31.24 and a beta of 3.68. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 earnings per share. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. The trade was a 99.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 1,180,871 shares of company stock worth $440,664,276. Insiders own 17.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on COIN shares. Jefferies Financial Group boosted their target price on Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a research note on Tuesday, July 29th. Compass Point reaffirmed a “sell” rating and set a $248.00 price target (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Needham & Company LLC lifted their price target on Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Barclays lifted their price target on Coinbase Global from $352.00 to $365.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. Finally, Citigroup lifted their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $352.72.

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.