Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,373 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,137 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Coinbase Global were worth $8,528,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COIN. Creekmur Asset Management LLC purchased a new position in shares of Coinbase Global in the fourth quarter worth about $27,000. Crewe Advisors LLC lifted its holdings in 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 buying an additional 104 shares in the last quarter. Lynx Investment Advisory purchased a new position in Coinbase Global in the second quarter valued at $29,000. Concord Wealth Partners grew its position in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. 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. The Goldman Sachs Group lowered their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a report on Monday, August 5th. Finally, Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $206.00 to $169.00 in a research note on Friday, September 6th. 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, the company currently has an average rating of “Hold” and a consensus target price of $246.06.

Coinbase Global Stock Down 7.4 %

Shares of Coinbase Global stock opened at $165.01 on Wednesday. The company has a market capitalization of $40.52 billion, a P/E ratio of 32.94 and a beta of 3.36. The business’s fifty day moving average price is $188.17 and its two-hundred day moving average price is $217.89. Coinbase Global, Inc. has a 1-year low of $70.41 and a 1-year high of $283.48. 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 posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm posted ($0.42) EPS. The company’s quarterly revenue was up 104.8% compared to the same quarter last year. As a group, research analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the transaction, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $5,083,653.25. Following the sale, the chief executive officer now owns 526 shares in the company, valued at $115,883.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,612 shares of company stock worth $20,326,489. Corporate insiders own 23.43% of the company’s stock.

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.