Hollencrest Capital Management Has $230,000 Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Hollencrest Capital Management lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 93.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,037 shares of the cryptocurrency exchange’s stock after purchasing an additional 500 shares during the period. Hollencrest Capital Management’s holdings in Coinbase Global were worth $230,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Concord Wealth Partners raised its holdings 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 during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Coinbase Global by 833.3% during 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 in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.4 %

NASDAQ COIN opened at $168.24 on Friday. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 33.58 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’s fifty day moving average price is $200.73 and its two-hundred day moving average price is $222.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on COIN shares. HC Wainwright lowered their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Compass Point reduced their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $246.06.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at approximately $15,623,742.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.95, for a total transaction of $335,925.00. Following the completion of the transaction, the chief operating officer now owns 205,971 shares of the company’s stock, valued at approximately $46,127,205.45. The disclosure for this sale can be found here. Insiders sold a total of 111,562 shares of company stock valued at $23,115,399 over the last three months. Insiders own 23.43% of the company’s stock.

About Coinbase Global

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.