Benjamin F. Edwards & Company Inc. Has $2.92 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Benjamin F. Edwards & Company Inc. lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 362.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,125 shares of the cryptocurrency exchange’s stock after acquiring an additional 10,289 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Coinbase Global were worth $2,917,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after acquiring an additional 2,624,989 shares in the last quarter. Cowen AND Company LLC grew its position in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after buying an additional 22,071 shares during the period. Renaissance Technologies LLC grew its position in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the period. Canada Pension Plan Investment Board grew its position 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 buying an additional 486,512 shares during the period. Finally, American Century Companies Inc. grew its position in Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after buying an additional 435,886 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 1.1 %

Shares of NASDAQ COIN opened at $170.09 on Friday. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. 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 firm’s 50 day simple moving average is $198.85 and its two-hundred day simple moving average is $221.59. The stock has a market capitalization of $41.77 billion, a P/E ratio of 33.95 and a beta of 3.36.

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). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned ($0.42) earnings per share. The firm’s revenue was up 104.8% on a year-over-year basis. As a group, analysts expect that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s 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 transaction, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were 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 owns 182,903 shares in the company, valued at $41,901,248.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the transaction, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,562 shares of company stock worth $23,115,399. Insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. HC Wainwright cut their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $206.00 to $169.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $246.06.

Coinbase Global 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.