Chelsea Counsel Co. Has $60,000 Stock Position in Coinbase Global, Inc. $COIN

Chelsea Counsel Co. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 70.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 170 shares of the cryptocurrency exchange’s stock after selling 400 shares during the period. Chelsea Counsel Co.’s holdings in Coinbase Global were worth $60,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares during the period. North Star Investment Management Corp. acquired a new position in Coinbase Global during the second quarter valued at $55,000. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global during the first quarter valued at $30,000. S Bank Fund Management Ltd acquired a new position in Coinbase Global during the first quarter valued at $31,000. Finally, SouthState Corp raised its position in Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 104 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN opened at $337.49 on Wednesday. The firm has a market capitalization of $86.71 billion, a P/E ratio of 32.64 and a beta of 3.68. The stock’s 50 day moving average price is $325.38 and its two-hundred day moving average price is $277.73. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $209,279.62. This represents a 99.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 714,515 shares of company stock valued at $272,046,775. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Coinbase Global from $239.00 to $268.00 and gave the stock a “neutral” rating in a research report on Monday, July 7th. William Blair assumed coverage on Coinbase Global in a research report on Wednesday, June 11th. They issued an “outperform” rating on the stock. HC Wainwright reaffirmed a “sell” rating and issued a $300.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $358.33.

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.