Stephens Inc. AR Takes $368,000 Position in Coinbase Global, Inc. $COIN

Stephens Inc. AR acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,050 shares of the cryptocurrency exchange’s stock, valued at approximately $368,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global in the first quarter valued at approximately $30,000. S Bank Fund Management Ltd bought a new stake in Coinbase Global in the first quarter valued at approximately $31,000. SouthState Corp boosted its holdings in Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new stake in Coinbase Global in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. This trade represents a 97.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares in the company, valued at approximately $148,834.86. This represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $354.46 on Monday. The stock has a market capitalization of $91.07 billion, a price-to-earnings ratio of 34.28 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. The stock’s 50 day moving average price is $329.63 and its two-hundred day moving average price is $300.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

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

Wall Street Analyst Weigh In

COIN has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded Coinbase Global from a “neutral” rating to an “overweight” rating and upped their target price for the company from $342.00 to $404.00 in a report on Friday. Keefe, Bruyette & Woods reduced their target price on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. Monness Crespi & Hardt cut Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, Compass Point raised their target price on Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $384.12.

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.