Amalgamated Bank Has $2.88 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Amalgamated Bank lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 32.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,935 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,133 shares during the quarter. Amalgamated Bank’s holdings in Coinbase Global were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in Coinbase Global by 6.6% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,570 shares of the cryptocurrency exchange’s stock worth $571,000 after purchasing an additional 160 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Coinbase Global by 26.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,118 shares of the cryptocurrency exchange’s stock valued at $2,697,000 after buying an additional 2,565 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Coinbase Global during the 2nd quarter valued at about $311,000. Wealth Alliance bought a new stake in Coinbase Global in the second quarter valued at about $230,000. Finally, Perennial Investment Advisors LLC raised its position in Coinbase Global by 34.5% in the second quarter. Perennial Investment Advisors LLC now owns 1,536 shares of the cryptocurrency exchange’s stock worth $341,000 after purchasing an additional 394 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

Shares of COIN stock opened at $170.22 on Tuesday. The firm has a market cap of $41.80 billion, a price-to-earnings ratio of 33.98 and a beta of 3.36. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $197.39 and a 200 day moving average price of $221.00.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group decreased their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. HC Wainwright lowered their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. One research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $246.06.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction 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 sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, 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 in the company, valued at approximately $30,436,386.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $115,883.06. The disclosure for this sale can be found here. Insiders have sold a total of 101,562 shares of company stock valued at $20,920,899 in the last 90 days. 23.43% of the stock is owned by company insiders.

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.