Oppenheimer & Co. Inc. Buys 881 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Oppenheimer & Co. Inc. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 12.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,794 shares of the cryptocurrency exchange’s stock after buying an additional 881 shares during the period. Oppenheimer & Co. Inc.’s holdings in Coinbase Global were worth $1,732,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Securities Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $122,000. Jump Financial LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $220,000. Dimensional Fund Advisors LP boosted its position in shares of Coinbase Global by 16.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 427,461 shares of the cryptocurrency exchange’s stock valued at $74,417,000 after purchasing an additional 58,878 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $297,000. Finally, Beacon Pointe Advisors LLC boosted its position in shares of Coinbase Global by 27.8% during the 4th quarter. Beacon Pointe Advisors LLC now owns 8,514 shares of the cryptocurrency exchange’s stock valued at $1,481,000 after purchasing an additional 1,850 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the sale, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the sale, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,562 shares of company stock valued at $23,115,399. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COIN shares. The Goldman Sachs Group cut 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. HC Wainwright cut 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. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $162.45 on Wednesday. The company has a market cap of $39.89 billion, a PE ratio of 32.43 and a beta of 3.36. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The business has a 50 day moving average price of $201.87 and a 200-day moving average price of $222.80. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business’s revenue was up 104.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.42) earnings per share. Equities analysts anticipate that Coinbase Global, Inc. will post 3.96 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.