Callan Family Office LLC Purchases 3,344 Shares of Coinbase Global, Inc. $COIN

Callan Family Office LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 182.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,174 shares of the cryptocurrency exchange’s stock after buying an additional 3,344 shares during the period. Callan Family Office LLC’s holdings in Coinbase Global were worth $1,813,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. boosted its holdings in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global in the 1st quarter valued at $30,000. S Bank Fund Management Ltd bought a new stake in Coinbase Global in the 1st quarter valued at $31,000. SouthState Corp boosted its holdings in 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 purchasing an additional 104 shares during the period. Finally, NBT Bank N A NY bought a new stake in Coinbase Global in the 1st quarter valued at $33,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup increased their price target on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Monness Crespi & Hardt downgraded shares of Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Barclays reduced their price target on shares of Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a report on Wednesday. Mizuho set a $300.00 price target on shares of Coinbase Global in a report on Thursday, September 18th. Finally, China Renaissance began coverage on shares of Coinbase Global in a report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 price target for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average target price of $367.12.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $357.01 on Friday. The firm has a market cap of $91.73 billion, a P/E ratio of 34.53 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The firm’s 50-day simple moving average is $325.06 and its 200-day simple moving average is $287.80. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced 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 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 revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $300.52, for a total transaction of $527,713.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the sale, the insider owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This trade represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 721,764 shares of company stock worth $273,595,798 over the last ninety days. Company insiders own 17.65% 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.