Inspire Investing LLC Sells 485 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Inspire Investing LLC decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 28.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,191 shares of the cryptocurrency exchange’s stock after selling 485 shares during the quarter. Inspire Investing LLC’s holdings in Coinbase Global were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of COIN. Creekmur Asset Management LLC purchased a new position in shares of Coinbase Global in the fourth quarter worth approximately $27,000. Crewe Advisors LLC boosted its stake in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global during the 2nd quarter valued at $29,000. Concord Wealth Partners increased its stake in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Bank of America lowered their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $246.06.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $115,883.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $1,030,905.00. Following the completion of the sale, the chief financial officer now owns 182,903 shares in the company, valued at $41,901,248.27. The disclosure for this sale can be found here. Insiders sold 101,562 shares of company stock valued at $20,920,899 in the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 0.9 %

COIN stock opened at $171.68 on Wednesday. The firm has a fifty day moving average price of $195.80 and a 200 day moving average price of $220.40. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The firm has a market cap of $42.16 billion, a PE ratio of 34.27 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its 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). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s quarterly revenue was up 104.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.42) earnings per share. Sell-side 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.