Vigilare Wealth Management Makes New Investment in Coinbase Global, Inc. $COIN

Vigilare Wealth Management acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,263 shares of the cryptocurrency exchange’s stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Bessemer Group Inc. raised its holdings in Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the 1st quarter valued at $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global in the 1st quarter valued at $31,000. SouthState Corp increased its holdings in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Finally, NBT Bank N A NY acquired a new position in shares of Coinbase Global in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at $25,587,542.40. The trade was a 15.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 198,300 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $209,279.62. The trade was a 99.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 714,515 shares of company stock valued at $272,046,775 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COIN shares. Compass Point reiterated a “sell” rating and issued a $248.00 price objective (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Oppenheimer reiterated an “outperform” rating and issued a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Sanford C. Bernstein lifted their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research report on Tuesday, July 29th. Fourteen 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’s stock. According to MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus price target of $358.33.

Coinbase Global Trading Up 1.0%

NASDAQ:COIN opened at $337.49 on Wednesday. The company has a market capitalization of $86.71 billion, a PE ratio of 32.64 and a beta of 3.68. 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 52-week low of $142.58 and a 52-week high of $444.64. The stock has a fifty day simple moving average of $325.38 and a 200-day simple moving average of $277.73.

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