Benjamin Edwards Inc. Purchases 61 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Benjamin Edwards Inc. lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,009 shares of the cryptocurrency exchange’s stock after acquiring an additional 61 shares during the quarter. Benjamin Edwards Inc.’s holdings in Coinbase Global were worth $446,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in COIN. Salem Investment Counselors Inc. raised its holdings in Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after purchasing an additional 114 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Coinbase Global by 454.3% during the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after buying an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd lifted its holdings in Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after buying an additional 85,573 shares during the period. QRG Capital Management Inc. boosted its stake in Coinbase Global by 130.5% in the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after acquiring an additional 5,493 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in Coinbase Global by 93.5% during the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after acquiring an additional 7,148 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. HC Wainwright cut their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $206.00 to $169.00 in a report on Friday, September 6th. One equities 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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 shares were sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $115,883.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $115,883.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The disclosure for this sale can be found here. Insiders have sold 111,562 shares of company stock worth $23,115,399 over the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $170.09 on Friday. The stock has a 50-day moving average price of $199.80 and a two-hundred day moving average price of $222.00. Coinbase Global, Inc. has a 1 year low of $69.63 and a 1 year high of $283.48. The stock has a market cap of $41.77 billion, a PE ratio of 33.95 and a beta of 3.36. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for 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 firm’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.42) earnings per share. Equities analysts forecast that Coinbase Global, Inc. will post 3.96 EPS 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.