Brighton Jones LLC Sells 93 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Brighton Jones LLC decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,112 shares of the cryptocurrency exchange’s stock after selling 93 shares during the period. Brighton Jones LLC’s holdings in Coinbase Global were worth $1,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Crewe Advisors LLC boosted its stake 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 stake in Coinbase Global in the 2nd quarter valued at $29,000. Concord Wealth Partners raised 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 valued at $30,000 after buying an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of 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 acquiring an additional 100 shares during the period. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. Barclays upgraded Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $206.00 to $169.00 in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. HC Wainwright decreased their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group dropped their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $246.06.

Coinbase Global Price Performance

COIN opened at $170.09 on Friday. 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 stock has a market capitalization of $41.77 billion, a P/E ratio of 33.95 and a beta of 3.36. The company’s 50 day simple moving average is $199.80 and its 200-day simple moving average is $222.00. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48.

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

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, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $115,883.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, September 13th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 111,562 shares of company stock valued at $23,115,399 in the last 90 days. 23.43% of the stock is owned by company insiders.

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.